1979 joint association survey on drilling costs
Book
·
OSTI ID:5846354
Using 1979 data collected from the petroleum industry by (1) API, (2) the Independent Petroleum Association of America, and (3) the Mid-Continent Oil and Gas Association, the Joint Association Survey compiled information relating to the cost of drilling oil and gas wells and dry holes in the US. The survey revealed that (1) the total cost of drilling and equipping all wells and dry holes in 1979 rose 23.1% to $16.079 billion, (2) the average oil-well depth decreased 0.3% to 4170 ft at an average cost of $58.29/ft (up 17.2%), while the average gas-well depth increased 0.4% to 5493 ft at an average cost of $80.66/ft (up 18%), (3) the average dry hole was 5256 ft deep (down 1.9%) at an average cost of $64.60/ft (up 22.9%), (4) the total number of wells drilled rose 4% while total footage grew 3%, and (5) completed offshore wells cost a total of $3.207 billion (up 24.4%), with the total number of offshore wells increasing 5.3%, their average depth 0.1%, and their average cost 18.1% (to $258.79/ft).
- OSTI ID:
- 5846354
- Country of Publication:
- United States
- Language:
- English
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