The climate of Salt Lake City varies widely. Lying in the Salt Lake Valley, the city is surrounded by mountains and the Great Salt Lake. The city has four distinct seasons: a cold, snowy winter; a hot, dry summer; and two relatively wet transition periods.
The price of oil rigs for land drilling in the United States typically starts at around $18 million to $20 million and goes up to around $25 million, but it can be nearly twice that amount depending on the specific rig purchased. The least-expensive rigs are those classified as U.S. small footprint land rigs.
LOE for our wells is roughly $0.50/bbl (50 cents per barrel). So for a typical 2,000 bbl/day oil well that means it costs roughly $1,000/day to operate. At $100/bbl oil, that means the well is roughly profitable down to 10 bbl/day. I'd say 30 year life is easily feasible.