April 24, 2014
May 01, 2014
DRILLING PERMITS SUBMITTED PENDING APPROVAL
May 05, 2014
DRILLING PERMITS SUBMITTED PENDING APPROVAL
May 06, 2014
DRILLING PERMIT SUBMITTED PENDING APPROVAL
May 07, 2014
DRILLING PERMIT SUBMITTED PENDING APPROVAL
May 09, 2014
DRILLING PERMIT SUBMITTED PENDING APPROVAL
May 27, 2014
June 02, 2014
June 04, 2014
DRILLING PERMIT SUBMITTED PENDING APPROVAL
June 04, 2014
June 05, 2014
DRILLING PERMITS SUBMITTED PENDING APPROVAL
June 06, 2014
June 12, 2014
Completion Report
Hi Clint. Thank you for keeping us updated on the drilling in Terry County. I looked at the completion report for the well you listed, and the 24-hour potential test report states that the well produced 13 barrels of oil and 223 barrels of water. At the end of the report, the report states that the well has been re-completed and is a “producing” well. How can the company possibly make money on a well that only produces 13 barrels of oil per day, and then the company has to dispose of 223 barrels of water per day? Your thoughts please! Thank you so much.
Robert,
In my opinion there is no way the company can make money on a well like that. Even if it sustains 13 barrels per day which I’m sure it won’t. Now if the company is using the saltwater for water flooding a nearby well that could help their bottom line. The cost of having a vacuum truck come in and remove the saltwater is not cheap. I know because I drove a vacuum truck back in the early 80’s and we charged about $50 per hour then and I’ll bet they charge at least $80 per hour now.
In my opinion I see a lot of these wells never paying for the cost of drilling.
June 23, 2014
DRILLING PERMIT SUBMITTED PENDING APPROVAL
June 23, 2014