average depth for oil drilling
Relianceâs vertical drilling program is focused on 60,000 acres in Martin, Andrews and Ector counties. âIn most of our wells, we complete the Atoka, Strawn, Cline, Wolfcamp, Dean, Spraberry, and Clearfork,â he notes. âThe wells typically cost $2 million to drill with an average depth of 11,800 feet.â In general, West says the wells initially produce more than 100 barrels of oil and 400 Mcf of gas a day, and have estimated ultimate recoveries averaging 215,000 barrels of oil equivalent, with 85 percent of the production liquids and oil.