Study benchmarks 2001 drilling, completion costs for 400 South Texas gas wells

12/09/2002
A group of operating companies with gas well completions in South Texas participated in a 400-well drilling costs and practices benchmarking study. The 12 companies, of all sizes from independents to majors, had drilled the wells in Texas Railroad Commission Districts 1, 2, 3, and 4 during 2001 (Fig. 1). Click here to enlarge imageThe study assessed more than $1 billion of capital spending, of which the operators had spent $685 million for drilling costs and $360 million for total completion costs.Categorizing the wells into seven asset class groups, the study found that average-drilling costs for the groups varied widely from a low of $71/ft to more than $200/ ft.Project designSouth Tex...
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