USD 87.0354


EUR 93.2994


Brent 85.41


Natural gas 2.904



Oil Well

Its a hole dug into the Earth that serves the purpose of bringing oil or other hydrocarbons - such as natural gas - to the surface

Oil Well

These hydrocarbons consist of crude oil, natural gas, water and natural gas condensates.
An oil well produces crude oil along with natural gas; however, if a well only produces natural gas, it is known as a gas well.

An oil well development is a part of the upstream sector of the oil and gas industry and the organizations that develop oil or gas wells are called Exploration and Production (E&P) organizations.

There are numerous different ways that oil well can be drilled to maximize the output of the well while minimizing other costs.

The most common type of well drilled today is known as a conventional well.
These wells are wells drilled in the traditional sense in that a location is chosen above the reservoir and the well is drilled vertically downward.

Horizontal wells are an alternative type of well used when conventional wells do not yield enough fuel.
These wells are drilled and steered to enter a deposit nearly horizontally.

Other types of wells include offshore wells, which are wells that are drilled in the water instead of onshore.
The development of an oil well consists of various sequences of operations such as:
  • Exploration (which includes 2D and 3D seismic analysis)
  • Processing and Interpretation of information
  • Well construction
  • Drilling of an oil well
  • Testing of the oil well
  • Completion of the oil well
Once all these sequences of the oil well are complete, production can begin from it which is known as development of the oil well.