Drilling and Completion Cost Study

Solomon’s Drilling and Completion Cost Study is for companies that want to use consistent, reliable, and detailed information to assess their strengths, their weaknesses, and their opportunities for improving their current drilling programs. We measure your spending relative to other operators in the study and provide you with data points showing where your costs are high in relation to those with similar wells. This information alerts you to where opportunities exist to reduce the costs of future wells.

This study is aimed at operators drilling in unconventional formations and focuses on best practices related to the two key challenges: 1) expensive drilling and 2) completion efficiency.

This study analyzes industry performance by area/geology, depth range, and type of well, and includes multiple performance metrics, including cost per foot, feet per day, completion time, and more. It analyzes cost drivers such as well depth, well profile (vertical, horizontal, multilateral), geology, surface location, hydrogen sulfide, and completion design. The study also provides reliability metrics based on an analysis of daily production data to identify downtime incidents (planned and unplanned) and lost production.

Minimizing drilling costs is critical to profitability for E&P companies. Solomon’s detailed time, cost, and operational benchmarking allows participants to reduce drilling and completion costs through focused application of successful best practices.

Answer key questions critical to your success:

• How reliable are my facilities?
• How does my equipment utilization compare with that of others?
• Are my operating expenses comparable to those of companies with similar facilities?
• Do my facilities produce a competitive gross margin, accounting for my utilization and complexity?
• How do I compare across the range of performance in the industry?