Hello,
My brothers and I have 1 well we participated in and 15 others we went non-participation in Williams County, ND in the Baaken. Prior to deciding what we were going to do we got a printout of the cost of each well, which varied between 7 and 14 million. According to some info we have gotten in the past 4 years, when wells are drilled off one central well [unsure if this is how it works] horizontally, those wells should not be as expensive as are "offshoots". Perhaps we got the wrong information, but if we have to wait for those wells to be paid back plus penalty, we will be long deceased. I know the last couple of years have been terrible checks with oil prices between 30 and 49; hopefully this will improve if oil continues to rise.
I guess my question is should we get the quoted cost of the wells compared to the actual cost of the wells by a forensic accountant? Thanks for any input.
Pat Maloney
pr_maloney4@msn.com