Drilling & Well Cost Calculator – Excel AFE Cost Estimator for Oil & Gas Wells

Description
This Drilling & Well Cost Calculator is a formula-driven Excel template built for oil & gas operators, drilling engineers, and project planners who need a fast, structured cost estimate before committing to a well — without waiting on a full engineering AFE (Authorization for Expenditure) package. Getting an early, realistic cost picture matters at the planning stage, when decisions about budget, financing, and project viability are being made.

The template follows the standard cost categories used across the industry. It starts with Well & Project Details (well name, field, well type, target depth, and estimated drilling days), then builds the cost estimate step by step: Site Preparation & Mobilization (access roads, rig mobilization/demobilization, permits), Drilling Rig Cost (calculated automatically from day rate × drilling days), Drilling Services & Materials (mud, bits and downhole tools, casing and cementing, directional drilling/MWD services, wellhead equipment), and Evaluation & Completion (logging, well testing, completion including perforation and stimulation). Transportation, personnel/supervision, and a contingency percentage round out the cost base.

The Total Cost Summary section automatically rolls up every category into a subtotal, applies your chosen contingency percentage (10-15% is typical for exploration wells, 5-10% for development wells in a known field), and produces the final Total Estimated Well Cost — clearly highlighted for quick reference. Two additional benchmarks, Cost per Foot and Cost per Drilling Day, are calculated automatically, giving you a quick way to compare this well's economics against other wells or industry norms. Every formula recalculates instantly as inputs change, making this ideal for comparing multiple well designs or testing different contingency assumptions before finalizing a budget.