Study notes jump in Permian basin operating expenses

12/12/2005
Permian basin unit operating expenses (opex) jumped during 2002-04 for all but the leading area operators, according to a Ziff Energy Group benchmarking study conducted for nine basin operators.The study examined 2004 operating cost data for 201 fields operated by the participants, which include six of the top nine operators. The fields represent nearly half of the basin’s oil production and about a third of its gas production.The 2004 average oil field opex increased 25% to more than $7.60/bbl since Ziff’s last such study in 2002, although leading operators achieved operating costs below $5/bbl.Similarly, the 2004 average opex for gas fields increased 31% to nearly 90¢/M...
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