say $15million to drill well.
profit $20 per barrel.
300*20= 6000 per day *365 = approx $2million profit
max $3m per year profit.
half well cost about $7.5 m..
So about 3-4 years to get your money back
from drilling the well.
I think I will take lesser share for faster developmt, rather
than 50% of no wells drilled. At $10 to $15m per drill
we really need a major with deep pockets to kick the SP
up.
u3, page-9
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