its really sloppy, almost as though he's only partially aware or belong deliberately sloppy in his message. The digital wildcatters don't help by confusing well cost and flow rate in their message.
The Americans have done a good job getting costs down over time, again it's very vague but generally there's no point in citing the drill cost alone, drill and frac (and generally equip) is the metric most would work on. I know the numbers but I have no idea what he's referring to exactly when it comes to reducing costs. One thing for sure, continuous activity is incredibly efficient compared to this early phase of operations.
It's also worth mentioning that the supply of equipment and competent personnel dramatically effect cost in a classic supply-demand relationship. Americans spend over 2x on their wells relative to the best performers in the industry...supply demand is part of it, but not all of it.
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