How much does it cost to start an oil and gas company?
Andrew Campbell
Updated on January 17, 2026
If you are going to start an oilfield, be prepared for at least $6 million in starting costs, and possibly more. In an industry where earning a profit can take years, having the assistance of my team can make all the difference.
How do I start my own oil field business?
Getting into The Oil Business—How to Start Your Own Company
- Decide where to invest. There are all sorts of companies in the oil and gas industry—from drilling your own wells to having your own filling station.
- Make a business plan.
- Identify your investors.
- Build a great team.
- Use top-notch equipment.
- Check the regulations.
Is oil and gas a good investment?
Investing in the oil and gas industry carries a number of significant risks. However, long-term investments in oil and gas companies can also be highly profitable. Investors should fully grasp the risks before making investments in the sector.
How much does it cost to set up an oil well?
Total capital costs per well in the onshore regions considered in the study from $4.9 million to $8.3 million, including average completion costs that generally fell in the range of $ 2.9 million to $ 5.6 million per well. However, there is considerable cost variability between individual wells.
How much do oil fields cost?
Onshore wells can be considerably cheaper, particularly if the field is at a shallow depth, where costs range from less than $4.9 million to $8.3 million, and the average completion costing $2.9 million to $5.6 million per well.
Do you need money to start an oil company?
Oil and gas production is serious business, so you need to invest lots of money, time, and effort to succeed in the long term. This article explains some basic concepts in the oil and gas industry as well the steps involved in starting an oil and gas company.
Do you need a business plan for an oil and gas business?
Write your business plan Every business needs a business plan. In fact, oil and gas businesses need it even more as it helps you plan the various phases of the business and increases your chances of success. Although developing your business plan is no guarantee of your business’s success, not having one is the recipe for failure.
Can you get a loan for an oil and gas company?
Loans can be a better option for oil and gas distributors and fueling stations than for exploration companies, as distributors and retailers can experience more predictable income patterns and growth in the early stages than exploration companies, who may not earn a dime for years.
How many years of experience do you need for oil and gas job?
Finding information on entry-level oil and gas (O&G) jobs is hard. Search engines can take you in circles, most listings require 5-10 years of experience and, as you search, you begin to wonder if the right information just isn’t out there. So how do you end up with a satisfying O&G career without knowing where to start?
