New Indiana oil well drilling

[Miguel1994000000]

Does almost every place has chance of having an oil well?

How much would it cost to get an oil well with its pump getting like 10 bbs per day?

[tyoung317]

@Miguel1994000000 Only certain areas in Indiana have a chance of hitting oil and then its hard to find the spot that will produce oil. We spend around $100,000 for drilling and completion cost on a new well and it does cost less to drill offsets on producing leases.

[sethcat99]

How much did the piping and drilling cost?

[tyoung317]

@sethcat99 Its running about $55,000 for a 1250ft well to drill on a dry hole bases.