Treaty Energy Corp. (fka TECO)

[geopressure]

Mud logging does not cost $12,000/hour, and Schlumberger does not do mud logging that I have ever seen or heard of (though I'm sure they have bought a mud-logging company somewhere along the way). The article you are citing is referring to 'Mud Log Analysis Services" as being $12,000/hour - that would be the act of analyzing & interpreting a physical or digital mud log post drilling...

Mud Logging on land typically cost about $1,500 to $3,000 per day. TECO claims to have had a mud logging service provider on location of the San Juan #1 & 2 wells (though these mud logger suspiciously forgot to save samples of the pay-zone cuttings, oops).

Without mud-logging &/or Open-Hole wireline logging, an operator would be drilling blind. Open-Hole Wireline-logs can point to where oil or gas likely is in the subsurface after drilling, Mud Logging confirms this (assuming that the well is not extremely overbalanced at the time of drilling).