DRILLING

Idle drills will cost $1.5B

THE US government's tough hydraulic fracturing regulations are unnecessary, excessive and will cost the industry $US1.5 billion per year, according to a major Texas shale oil producer.

Andy Graham

According to Bloomberg, Houston-based EOG Resources cited a study by economics researcher John Dunham and Associates that said the regulations would add $253,839 to the cost of drilling a well, not the...

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