Oil & Gas 360º

APRIL 7, 2025

RRC figures show 1,072 new drills recorded during March (up 27.5%), including 818 oil wells, 246 gas wells and eight dry holes. This compares to 841 total new drills in February, including 682 oil wells, 142 gas wells and 17 dry holes. The figures a year ago included 689 oil wells, 183 gas wells and 19 dry holes.

Dry Hole 130

Dry Hole Basin Oil Gas 130

The Energy Law

JUNE 2, 2017

In doing so, the Third Circuit created an issue ripe for Louisiana Supreme Court decision. (“Justiss”) entered into a turnkey drilling contract to drill a deep oil well using intermediate casing purchased from Oil Country Tubular Co. In Justiss Oil Company, Inc. Oil Country Tubular Corp., and manufactured by North American Interpipe, Inc.

Casing 40

Casing Dry Hole Manufacturing Oil 40

The Energy Law

APRIL 30, 2020

The well was a dry hole, however, and was therefore plugged and abandoned on April 21, 2006. The controlling element in this case focused upon by the Second Circuit was whether the operations were “commenced with reasonable expectation of discovering and producing minerals in paying quantities” at the location and depth chosen.

Operator 40

Operator Dry Hole Spud-in Abandonment 40

Aresco

DECEMBER 17, 2024

Long-Term Passive Income: Once a well is producing, it can potentially generate cash flow for many years, or even for a decade or two in some cases, offering investors the opportunity to establish a long-term passive income stream. Dry holeswhere no commercially viable oil or gas is foundare a real possibility.

Crude Oil 52

Crude Oil Exploration and Production Oil Natural Gas 52