It is not cheap, and it would scare the crap out of many investors.
Below is what it has been costing to drill oil and gas wells.
`Marketing Communication Your Capital is at Risk
Only recently, wells in the Paradox Basin have cost US$8.0m-US$14.0m to drill. However, as a function of improved technology, modern rigs and an existing well pad, the State 16-2 well incurred expenditure of US$3.0m of which c.US$1.0m was non-recurring data acquisition costs.
- www.asx.com.au/asxpdf/20090625/pdf/31j7ff2dz9yvcw.pdf · PDF file
Drilling Costs (Million USD) $7 Completion Costs $1.5 _____ Total $8.5 Cost per Mcf $0.56 to $1.21 Gas Pricing (USD) Gas Price (mmBtu) $5.15 Heating adjustment 1115 Btu/mcf $5.74 Gas gathering, taxes & Transport $1.40-----Net $4.34-----At 4mmcf/d Well pays itself off in 1.4 years. (22% ROR)
These wells are drilling about 3,000 to 5,000 feet deeper for oil and gas, so costs for a brine extraction well will be cheaper.
Based on current technology the depth to drill and type of bore hole, I estimate it will cost about 1.5 to 2 million US dollars per well.
I will be very happy if its cheaper.
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- Ann: Anson Applies to Drill Two Production Wells
Ann: Anson Applies to Drill Two Production Wells, page-48
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