Drillers Take Second Crack at Fracking Wells to Cut Cost

Post date: Feb 18, 2015 4:53:12 PM

Click the photo to read the msn.com article

Beset by falling prices, the oil industry is looking at about 50,000 existing wells in the U.S. that may be candidates for a second wave of fracking, using techniques that didn’t exist when they were first drilled.

New wells can cost as much as $8 million, while re-fracking costs about $2 million, significant savings when the price of crude is hovering close to $50 a barrel, according to Halliburton Co., the world’s biggest provider of hydraulic fracturing services.  (Click here to read the full article.)