One data point for drilling costs in North Dakota
Bruce Oksol at Million Dollar Way provides one hard data point for costs to drill in Bakken for one producer in their particular locations with their specific techniques. May not apply to any other drillers, but a hard data point is useful.
Bakken Well Costs says:
From the Hess 1Q13 earnings transcript:
Well cost for the first quarter averaged $8.6 million per well, down 36% from $13.4 million per well in the first quarter of 2012 and down from $9 million per well in the fourth quarter of 2013.
Here’s the data:
- 12Q1 – $13.4
- 12Q4 – $9M
- 13Q1 – $8.6M