15M is plenty of cash for a well 1K deep 1k horizontal
In the Bakken, for a 18,000 ft horizontal well (10,000 ft vertical + 8,000 ft lateral) after you buy your acreage, it costs roughly $4-6 million to drill, and another $4-6 million to complete (frac + drill out + artificial lift) plus another $500K for surface facilities (tanks, treaters, lact, etc). So all in, for a company that drills 100 of these wells per year and has their technique and efficiency down to an art, it costs in the range of $8-12 Million per well. In the Eagle Ford it's around $6-8 Million per well.
That’s 3ks deep and 2.5ks horizontal.
Ann: Quarterly Activities Report & CashFlow Report, page-32
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