Question: how much does it cost to start a oil company?
Answer: A 2016 article from FuelFix placed the well cost for five different companies at $5.2 million to $7.2 million. Through 2017 and into 2018, they expected these costs to increase by about 5%. If you're going to start an oilfield, be prepared for at least $6 million in starting costs, and possibly more.