OGJ Newsletter

07/09/2012
GENERAL INTEREST — Quick Takes IHS indexes show near-record high upstream costs The costs of building and operating upstream oil and natural gas facilities set near-record highs in the first quarter of 2012, according to cost indexes developed by IHS. The IHS Upstream Capital Cost Index, based on a 2000 benchmark, increased by 2.3% during the 6 months ending Mar. 31. The new index score of 227 means capital costs totaling $1 billion in 2000 would now be $2.27 billion. The index's high score remains 230, which was reached in third-quarter 2008, IHS said. The capital cost index increased by 5.3% during all of 2011. The new cost increases "were driven by strong oil prices that exceede...
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