November 1, 2024
Uinta oil full-cycle costs at West Texas Intermediate (WTI) equivalent range from a low of USD $49.69/Bbl for wells with an Initial Productivity (IP) greater than 1800 Bbl/d to a high of USD $221.63/Bbl for wells with an IP of under 300 Bbl/d. Average Operating costs USD $16.03/Bbl while royalties & taxes and overhead are USD $18.02/Bbl. F&D costs range from USD $8.21-$101.23/Bbl and the 15% producer return ranges from USD $6.96-$85.89/Bbl. The assumed WTI differential is USD $0.46/Bbl.
Full Cycle Cost Curve
Incorrys analysis shows that there is 1,500 MMBbl of oil resource available below USD $50/Bbl and 5,200 MMBbl available below USD $60/Bbl. Current production (2023) was 130 MBbl/d (47.5 MMBbl/yr).
Uinta Basin Location
Uinta is located in Utah.
Number of Drilling Locations
Incorrys estimates that Uinta has almost 15,000 drilling locations with initial productivity above 300 Bbl/d and just over 10,000 drilling locations with initial productivity below 300 Bbl/d.