I have researched information about activity going on within a lease that I have mineral rights to in Texas. Since January of 2011 there have been 10 wells permitted, but only 2 completed. The two that are completed were approved in January and March of 2011. The others were permitted in September of 2011. Is it likely that the others will eventually be producing or do operators typically get wells permitted that they actually don't ever complete?
Dorrie:
When you say permitted, are you meaning that the company has applied for a drilling permit? If that's the case , sometimes a company will obtain drilling permits but that is not indicator that a well will be drilled. In the scenerio you gave, it sounds like the company has several permit applications in the area but only two wells have been drilled thus far. It is possible that the company will monitor that production figures on the existing wells before drilling some or all the others.