How much does it cost to drill and frac a shale gas/oil well?

In the Bakken, for a 18,000 ft horizontal well (10,000 ft vertical + 8,000 ft lateral) after you buy your acreage, it costs roughly $4-6 million to drill, and another $4-6 million to complete (frac + drill out + artificial lift) plus another $500K for surface facilities (tanks, treaters, lact, etc). read more

Bakken well costs were $7.1 million in 2014, but $5.9 million in 2015. Eagle Ford wells averaged $7.6 million in 2014, but $6.5 million in 2015. Marcellus wells were $6.6 million in 2014, but $ 6.1 million in 2015. read more

The average drill cost per foot was lowered from $245 to $143. That means drilling costs have been reduced for Chesapeake by about 42 percent, which offsets the drop in the commodity cost. Other companies have reported cost reductions from 2014 to 2015. Bakken well costs dropped from $7.1 million to $5.9 million. read more