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What are the costs of drilling for oil in the Bakken Formation?

 

We do not have any current information on drilling costs.  Recovery of oil drilling and production costs vary by geographic location, the cost of drilling materials like pipe, and the demand for services at the time.  The drilling industry also tends to be cyclical with sometimes significant variation in cost.  One evaluation of the technology of horizontal drilling and its costs in the Bakken Formation was performed by the U.S. Energy Information Administration.

 

Total per-barrel costs of production are more complicated and involve other factors such as costs to lease land and royalties. One place to look for that kind of information is the quarterly and annual reports filed by oil and gas producers to the U.S. Securities and Exchange Commission. Those reports are usually available on the internet at the companies' web sites.

 

Learn more: USGS National Oil and Gas Assessment (choose Williston Basin in the map to see all available documents and links).

 

Tags: Natural Resources, Energy, Gas, Oil, Bakken, Drilling, Continuous Oil