Petroleum Goodies: Authority for Expenditure |
| Posted: 27 Apr 2011 10:00 AM PDT Authority for Expenditure (AFE): A monetary report, normally made by the operator, to list predicted costs of drilling a well to a target depth, casing point or geological target, followed by either finishing or abandoning the well. Such expenditures can include excavation and surface site preparation, the daily leasing price of a drilling rig, prices of fuel, drill string, bits, casing, cement and logging, and coring and testing of the well, and others. This estimation of costs is presented to partners for approval before beginning of drilling or following processes. Similar Posts: |
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