In Oklahoma, are there time frame rules that companies must adhere to for producing a well already drilled, but not completed by service companies, etc. ? If so, can the company also get exceptions until pipelines are completed, etc. ?
I am not aware of exact rules for the DUC (drilled, but uncompleted). I have heard of grumblings about that. North Dakota does have rules. A prudent operator would want their well online. Some areas are waiting for pipelines. Some folks are waiting on better prices. I know of a few wells that had one operator drill, got bought out by a second operator who is in the middle of the paperwork handover and is a bit slow to complete. Do you have a particular well that you need info from?
Martha, You hit the nail on the head. I am in no hurry myself, as I think prices could very well get better. However, I do know that some are getting impatient as it’s been right at a year since drilling commenced. The connecting pipeline is nearly at the pad now. The well did sell to another company last year after the Xmas tree was set, etc. I was hoping that the company could not be forced to produce it in the very near future. Thank you, it is the Pioneer 3_34-18N-13W
Can’t find any first sales yet. Patience…