EOG estimates well costs at $11.5 million/well; hopes to get costs down to $6.8 million/well this year (compare with Bakken which is clearly in the $7 million/well range).That well cost comparison goes along nicely with this EIA analysis (a huge "thank you" to a reader for spotting this):
The "blue" and the "black" might be a bit hard to read. I believe "blue" is the Eagle Ford and "black" is the Permian (Delaware).
I am only interested in comparing "oil" basins, not "gas" basins. Therefore, throw out the Marcellus (green) line.
When the Marcellus, a "gas" play is thrown out, the Bakken is the second lowest; beat only by the Permian (Delaware). But for cost, the Bakken clearly beats the Permian (Midland) and the Eagle Ford, and not by a trivial amount. It's too bad the Bakken is so dependent on costly CBR.
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