The due process clause of the Fifth Amendment, ratified in 1791, asserts that no person shall be deprived of life, liberty, or property, without due process of law. This amendment restricts the powers of the federal government and applies only to actions by it.
The cost to drill an oil well can vary. A conventional vertical well in central Canada can cost as low as $350,000, a horizontal well with hydraulic fracturing in North Dakota can be as high as $5,000,000 and an off-shore well in the Gulf of Mexico or the North Sea can be a $20 or $30 million monster.nce a well begins producing oil there are ongoing costs that include water disposal, trucking, storage and other various operating necessities. These are calculated as a cost per barrel and can varry as low as $15 and as high as $80 depending on where the well is located and what type of oil is being produced.
The average total drilling cost in 2008 was roughly $2.5 to $3 million for a 15,000-foot well, while a 20,000-foot well often cost as much as $3.5 to $4 million. In 2013, the average total drilling cost for a 21,000-foot well is approximately $3 to $3.5 million.Oil and gas operators in the Bakken have seen EURs for dual laterals increase from an average of approximately 375,000 barrels of oil in 2008 to more than 600,000 barrels of oil equivalent in 2013.n addition to drilling an extra 5,000 feet or more, the time to drill a well to TD has decreased significantly. Five years ago, 16,000-foot wells were taking an average of 32 days to drill. Now, the average drill time for 21,000-foot wells is 18 days or less.