Oeuvres complètes

Der Weltverkehr und seine Mittel

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Monograph

Identifikator:: 836084659

URN:: urn:nbn:de:zbw-retromon-28892

Document type:: Monograph

Author:: Ricardo, David

Title:: Oeuvres complètes

Place of publication:: Paris

Publisher:: Guillaumin

Year of publication:: 1847

Scope:: 1 Online-Ressource (XLVIII, 752 S)

Collection:: Economics Books

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1883 2800 Wells $3 000,000 1903 EN O00 O00 18400 1023 $515,704.000 24.438 §515,704.000 IS EXPENDED ANNUALLY IN OIL WELL DRILI.ING OPERATIONS In one year, 1928, the petroleum industry completed in the United States 24,438 wells at an estimated cost of 515,704,000. Oil wells today are drilled to an average depth of 8,000 feet. The ordinary well costs the oil operator conservatively $25,000 to drill. Six years ago drilling for oil as deep as 3,000 feet was a rarity and was considered an expensive and hazardous adventure, Today the drill pipe and the bit are penetrating the earth 5,000 feet as a common oeccur- rence. The cost of drilling these deep wells runs from $50.000 to $125,000 each. Twenty years ago oil was struck at an average depth of 1,500 feet and the average cost of drilling a well was $2,500. Forty years ago a well could be drilled for a few hundred dollars, the cost rarely exceeding $1.000.—0il & Gas Journal

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