Thursday, June 6, 2013

Oil drilling costs: 800 rigs now needed to match what 35 used to do

Greentech Media: " For example, it takes just 35 rigs operating in conventional fields in Kuwait to produce 2 million barrels a day of oil, while in Texas, where tight oil production from the Eagle Ford formation is all the rage and contributing to the "impressive" reversal Smil touts, it now takes 800 rigs to produce the same amount."

'via Blog this'