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That's about what I was 'offered'
Quote:
Originally Posted by rcounts
Yeah, I worked on the drilling rigs in Wyo in the early '80s, and I can tell you that $8.75 a barrel cost HAS to be for completed, producing wells.
Over 25 years ago, the cost for keeping a rig operating and "makin' hole" was several THOUSAND dollars a day - and that was just to punch the hole - that might or might not end up producing anything.
Once the hole is drilled and the pumping starts, then I can believe $10-$20 a barrel to get it out of the ground and to the refinery. But by the time you get to that point you've already spent hundreds of thousands - maybe even millions - of dollars....
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for a project in LA (not Los Angeles). 10% of residual return but the $150-180K per week is what kept me out. And THAT is drilling ONLY. Even though it would be split 10 ways it still takes money to make money.
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1987 300D (230,000 mi on a #14 head-watching the temp gauge and keeping the ghost in the machine)
Raleigh NC - Home of deep fried sushi!
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