My family is not new to leasing. We are not new to Royalty from natural gas production. But we ARE new to oil wells and oil production. In addition we are new to the drilling occurring on our land. We are enjoying watching the "progress" of the well, but for the last 3 weeks to a month it has had a "work over rig" on it. The rig returned to the site after the pump jack had been going for a week. Tanks are in place, everything is still right where it was, but the pump jack has been stopped and work over rig has been there ... about a month.
The oil company isn't divulging any info, but continues to say it is not unusual practice to have a work over rig for this length of time, and that the well still "looks promising".
So, we are curious -- is this a long time for a work over rig? Or is this standard practice in the oil producing world?
Thanks in advance for any comments!