How much does it cost to produce crude oil and natural gas?
http://www.eia.gov/tools/faqs/faq.cfm?id=367&t=6
A measure of the total cost to produce crude oil and natural gas is the upstream costs. The upstream cost includes lifting and finding costs. Lifting costs are the costs to operate and maintain oil and gas wells and related equipment and facilities to bring oil and gas to the surface. Finding costs are the costs of exploring for and developing reserves of oil and gas and the costs to purchase properties or acquire leases that might contain oil and gas reserves.
EIA collects data related to these costs from the largest (major), U.S. oil and gas producers in its Financial Reporting System (FRS). The data are generally representative of the average cost for the FRS companies to find and produce their own particular mix of crude oil and natural gas in their production locations in the U.S. and in other countries and regions of the world. The table below is adapted from the most recent report of the Performance Profiles of Major Energy Producers, 2009.
Costs for Producing Crude Oil and Natural Gas, 2007–2009
2009 Dollars per Barrel of Oil Equivalent1
Lifting Costs Finding Costs Total Upstream Costs
United States – Average $12.18 $21.58 $33.76
On-shore $12.73 $18.65 $31.38
Off-shore $10.09 $41.51 $51.60
All Other Countries – Average $9.95 $15.13 $25.08
Canada $12.69 $12.07 $24.76
Africa $10.31 $35.01 $45.32
Middle East $9.89 $6.99 $16.88
Central & South America $6.21 $20.43 $26.64
15,618 cubic feet of natural gas equivalent to one barrel.
Source: Tables 10, 11 and 12, Performance Profiles of Major Energy Producers, 2009.
Last reviewed: January 15, 2014
Other FAQs about Crude Oil
Do we have enough oil worldwide to meet our future needs?
Does EIA have data on U.S. oil refineries and their locations?
Does EIA have data on shale (or “tight oil”) production?
Does EIA have data on the movement of crude oil and ethanol by rail and truck?
Does EIA have data on the type or quality of crude oil?
Does EIA have maps or information on the location of natural gas and oil pipelines?
Does EIA have projections for energy production, consumption, and prices for individual states?
How dependent is the United States on foreign oil?
How many gallons of gasoline does one barrel of oil make?
How much coal, natural gas, or petroleum is used to generate a kilowatthour of electricity?
How much does it cost to produce crude oil and natural gas?
When was the last refinery built in the United States?
Where is the boundary for state and federal offshore oil and gas production?
Why don't fuel prices change as quickly as crude oil prices?
Why is the United States exporting gasoline when prices are so high?
How much of the oil produced in the United States is consumed in the United States?
How much oil is consumed in the United States?
How much oil is produced in Alaska and where does it go?
How much oil is used to make plastic?
How much petroleum does the United States import and from where?
What are the differences between various types of crude oil prices?
What are the products and uses of petroleum?
What countries are the top world oil consumers?
What countries are the top world oil net exporters?
What countries are the top world oil net importers?
What countries are the top world oil producers?
What do I pay for in a gallon of regular gasoline?
What is the difference between crude oil, petroleum products, and petroleum?
What is the outlook for home heating fuel prices this winter?
What types and amounts of energy are produced in each state?
http://www.eia.gov/tools/faqs/faq.cfm?id=367&t=6
A measure of the total cost to produce crude oil and natural gas is the upstream costs. The upstream cost includes lifting and finding costs. Lifting costs are the costs to operate and maintain oil and gas wells and related equipment and facilities to bring oil and gas to the surface. Finding costs are the costs of exploring for and developing reserves of oil and gas and the costs to purchase properties or acquire leases that might contain oil and gas reserves.
EIA collects data related to these costs from the largest (major), U.S. oil and gas producers in its Financial Reporting System (FRS). The data are generally representative of the average cost for the FRS companies to find and produce their own particular mix of crude oil and natural gas in their production locations in the U.S. and in other countries and regions of the world. The table below is adapted from the most recent report of the Performance Profiles of Major Energy Producers, 2009.
Costs for Producing Crude Oil and Natural Gas, 2007–2009
2009 Dollars per Barrel of Oil Equivalent1
Lifting Costs Finding Costs Total Upstream Costs
United States – Average $12.18 $21.58 $33.76
On-shore $12.73 $18.65 $31.38
Off-shore $10.09 $41.51 $51.60
All Other Countries – Average $9.95 $15.13 $25.08
Canada $12.69 $12.07 $24.76
Africa $10.31 $35.01 $45.32
Middle East $9.89 $6.99 $16.88
Central & South America $6.21 $20.43 $26.64
15,618 cubic feet of natural gas equivalent to one barrel.
Source: Tables 10, 11 and 12, Performance Profiles of Major Energy Producers, 2009.
Last reviewed: January 15, 2014
Other FAQs about Crude Oil
Do we have enough oil worldwide to meet our future needs?
Does EIA have data on U.S. oil refineries and their locations?
Does EIA have data on shale (or “tight oil”) production?
Does EIA have data on the movement of crude oil and ethanol by rail and truck?
Does EIA have data on the type or quality of crude oil?
Does EIA have maps or information on the location of natural gas and oil pipelines?
Does EIA have projections for energy production, consumption, and prices for individual states?
How dependent is the United States on foreign oil?
How many gallons of gasoline does one barrel of oil make?
How much coal, natural gas, or petroleum is used to generate a kilowatthour of electricity?
How much does it cost to produce crude oil and natural gas?
When was the last refinery built in the United States?
Where is the boundary for state and federal offshore oil and gas production?
Why don't fuel prices change as quickly as crude oil prices?
Why is the United States exporting gasoline when prices are so high?
How much of the oil produced in the United States is consumed in the United States?
How much oil is consumed in the United States?
How much oil is produced in Alaska and where does it go?
How much oil is used to make plastic?
How much petroleum does the United States import and from where?
What are the differences between various types of crude oil prices?
What are the products and uses of petroleum?
What countries are the top world oil consumers?
What countries are the top world oil net exporters?
What countries are the top world oil net importers?
What countries are the top world oil producers?
What do I pay for in a gallon of regular gasoline?
What is the difference between crude oil, petroleum products, and petroleum?
What is the outlook for home heating fuel prices this winter?
What types and amounts of energy are produced in each state?
