Abstract: The development of petroleum industry has been seriously restricted by the sustained high drilling cost. During drilling design and operation, Huabei Oilfield approaches the way to lower drilling cost from reengineering the well profile and casing string design, based on the low cost strategy. In the first half year, the cost per meter is reduced by 104.34 Yuan for the completed 106 wells, with saving cost 30 million Yuan in total and good economics.