Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: thackney

Heard it put very simply on a local radio talk show that a drilling rig in west Texas is equal to a two million dollar construction project every two weeks. West Texas has over four hundred rigs running in the Permian Basin, each averaging a new well every two weeks. 26 new wells per year per rig is a lot of money, lots of damn good paying jobs, lots and lots of tax money, houses, new cars, clothing and medical care.

This country is the dumbest on the planet for not drilling everywhere there is a potential for a producing well. Just down right ignorant.


34 posted on 03/13/2012 2:53:10 PM PDT by biff (WAS)
[ Post Reply | Private Reply | To 28 | View Replies ]


To: biff
four hundred rigs running in the Permian Basin, each averaging a new well every two weeks. 26 new wells per year per rig

That sounded really fast to me so I did a little checking.

http://www.eia.gov/dnav/pet/pet_crd_wellend_s1_a.htm

45,529 wells drilled last year.

http://investor.shareholder.com/common/download/download.cfm?companyid=BHI&fileid=552028&filekey=9E1E3886-220B-479F-91BC-91D750D88111&filename=Rigs_by_State_030912.xls

We averaged just over 1,875 active rigs per day last year.

Dang, the whole country include a few big offshore rigs averaged over 24 wells a year per rig. I also read this week about rigs in the Bakken averaging a million dollars a week in operating expense, per rig.

40 posted on 03/13/2012 6:29:58 PM PDT by thackney (life is fragile, handle with prayer)
[ Post Reply | Private Reply | To 34 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson