I haven't worked oil production in years so my numbers are a bit dated. On the Bakken stuff I worked the project was self funding at $75/bbl, drilling and completion costs were in the rough neighborhood of 10-15 $/bbl. Land costs were all over the place but they were approaching the drilling and completion costs. Lifting costs aren't bad early in the life of the well but move towards $10/bbl pretty quickly. Transportation was/is expensive and was equal to lifting costs. Of course the completion costs have gone up as drilling moved out of the "sweet spots." That said, the costs haven't doubled.
All the sunk costs won't impact today's production since the lifting and transport costs are still covered. As drilling stops, and it will at $40 oil, production is going to drop like a rock. We'll lose half our Bakken production in a year.
It's been 10 years since I worked for a company with heavy oil sand production. Back then the costs were in the 20 to 30 $/bbl range. Those projects were marginally economic in the early years of this century. An interesting side note (for oil geeks) is the size of those projects and their capital requirements helped force reform in oil company valuation. Of course the deepwater Gulf of Mexico projects were also a factor in those political struggles.
