Oil & Gas Journal

JULY 17, 2025

Alex Procyk July 17, 2025 95931355 © Alena Redchanka | Dreamstime.com Equinor Energy AS drilled a dry well in the Garantiana NV prospect in production license (PL) 554 about 120 km west of Florø in the North Sea, the Norwegian Offshore Directorate reported July 17. The reservoir was aquiferous, and the well is classified as dry.

Dry Hole

Aresco

APRIL 23, 2025

Drilling a dry hole can cost hundreds of millions of dollars. For forward-looking energy companies, the message is clear: embrace AI, or risk falling behind in the race to discover tomorrows energy. This helps teams assess risk more quantitatively.

Exploration and Production

Aresco

JULY 17, 2024

Investing in oil and gas royalties can be an attractive option for investors seeking passive income and exposure to the energy sector. Since royalty owners do not bear the operating risks associated with drilling and production, they are insulated from potential cost overruns, dry holes, or operational issues that may arise.

Royalty

The Energy Law

APRIL 30, 2020

The well was a dry hole, however, and was therefore plugged and abandoned on April 21, 2006. In January 2006, approximately 6 months before the servitude would expire for non-use, the mineral servitude owner conveyed the servitude to an affiliated business entity on the condition that it drill a well on the property by June 15, 2006.

Operator

The Energy Law

JUNE 2, 2017

The appellate court also affirmed the trial court’s award of lost profits under the turnkey contract as consequential damages – rendering a decision that criticized defendants’ hypothesis that “some unknown and speculative intervening cause, i.e. a phantom hole in the formation ,” resulted in shutting in the well before completion.

Casing

Aresco

DECEMBER 17, 2024

Since energy demand tends to rise during periods of inflation, crude oil can offer a natural protection against economic downturns. Dry holeswhere no commercially viable oil or gas is foundare a real possibility. However, dry holes result in a tax write off of the amount invested. Tax Advantages: The U.S.

Crude Oil