Continental Resources, Inc. (CLR), Newfield Exploration Co. (NFX): You Won’t Believe How Much These Energy Companies Spent Last Year

And last but not least is Kodiak Oil & Gas Corp (USA) (NYSE:KOG), a company whose operations are almost exclusively focused in the Williston Basin. Though Kodiak Oil & Gas Corp (USA) (NYSE:KOG) pays more per well than the aforementioned firms since its wells tend to be much deeper, it too managed to bring well costs down to the $9.7 million-$10.2 million range, a roughly 15%-20% reduction from year-ago levels.

The bottom line

As you can see, even though exploration, development, and acquisition spending among the companies surveyed by Ernst & Young rose to a record level last year, that data doesn’t capture the nuances of individual shale plays. In addition to the Bakken, dozens of operators have reported staggering efficiency gains in other major shale plays, such as the Eagle Ford and the Marcellus, which have helped contain expenses.

The article You Won’t Believe How Much These Energy Companies Spent Last Year originally appeared on Fool.com and is written by Arjun Sreekumar.

Fool contributor Arjun Sreekumar has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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