Well Drilling Cost Calculator

Work out well drilling cost instantly with clear inputs, formula shown and shareable results.

About Well Drilling Cost Calculator

Rig time is the dominant cost driver: drilling days are depth divided by average rate of penetration times 24, plus non-drilling days for casing, cementing, logging, testing and trouble time. Tangibles and services add roughly 45% on top of rig cost for a conventional well.

Formulas

Drilling time

Drilling days = depth / (ROP x 24); total days = drilling days + non-drilling days

Cost

Rig cost = total days x day rate; total well cost = rig cost x 1.45

Worked example

With the default values below, Well Drilling Cost Calculator returns Estimated Total Well Cost of $3,587,944.44. Change any input above and every figure here is recalculated in your browser.

Inputs used

Total Depthminimum 0.01 ft: 12,000 ft
Rig Day Rateminimum 0: 85,000
Average Rate Of Penetrationminimum 0 ft/hour: 45 ft/hour
Non-Drilling Daysminimum 0 days: 18 days

Results

Estimated Total Well Cost: $3,587,944.44
Rig Time Cost: $2,474,444.44
Total Days On Well: 29.11
Cost Per Foot: $299.00

Step by step

1Values used
2Drilling time
3Cost
4Estimated Total Well Cost= 3,587,944.44
5Rig Time Cost= 2,474,444.44
6Total Days On Well= 29.11
7Cost Per Foot= 299.00

Assumptions and limits

The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, tax, fees or charges or compounding frequency into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

Why are non-drilling days so significant?

Casing runs, cementing, waiting on cement, logging, formation testing and any stuck-pipe or lost-circulation events all consume day rate without making hole. On difficult wells they can exceed drilling days.

How is cost per foot used?

As a benchmark between wells and bit runs. It is most useful for comparing bit and drilling parameter choices, where the trade-off is between penetration rate and bit life.