The Americans know how to innovate but even that will have its limits.
8According data available with this website, well cost has come down between 16 to 18% over the past one year in two of the largest shell oil plays -- the Mercellus and Utica -- in the US.
8The cost of well for every 1000 feet of lateral drilling was $1.357 million in 2014 and this has come down to $1.144 million in 2015. Similarly, for Utica, the cost is down to $1.289 million from $ 1.571 million.
8But while some shale plays still show a very high return on investment even at current low prices, there is data to show that a large number of shale plays are at below breakeven point at current gas and crude prices.
8Even the most profitable shale plays in the US are now cutting down on investments and reducing the number of wells to be drilled.
For more details visit indianpetroplus.com
8According data available with this website, well cost has come down between 16 to 18% over the past one year in two of the largest shell oil plays -- the Mercellus and Utica -- in the US.
8The cost of well for every 1000 feet of lateral drilling was $1.357 million in 2014 and this has come down to $1.144 million in 2015. Similarly, for Utica, the cost is down to $1.289 million from $ 1.571 million.
8But while some shale plays still show a very high return on investment even at current low prices, there is data to show that a large number of shale plays are at below breakeven point at current gas and crude prices.
8Even the most profitable shale plays in the US are now cutting down on investments and reducing the number of wells to be drilled.
For more details visit indianpetroplus.com
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