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

Aresco

APRIL 23, 2025

Drilling a dry hole can cost hundreds of millions of dollars. Artificial Intelligence (AI) is emerging as a powerful tool that enables companies to explore more accurately, reduce uncertainty, and accelerate project timelines. Seismic Data Interpretation Seismic surveys are foundational to hydrocarbon exploration.

Exploration and Production 104

Exploration and Production Gas Oil Dry Hole 104

Aresco

JULY 17, 2024

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. Risk Exposure : While investing in royalties can offer steady income streams, it also exposes investors to certain risks.

Royalty 52

Royalty Gas Oil Exploration and Production 52

The Energy Law

JUNE 2, 2017

In its reasoning on defendants’ alternative causation theory, the appellate court criticized the defendants’ failure to either continue to drill the well themselves and/or visit the well site to determine the cause of the excessive mud loss (what defendants contended was the result of a hole in the formation) at over 13,000 feet.

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. While the long-term fallout from the recent decline in oil prices and the COVID-19 pandemic remains unclear, it is clear that drilling activity has already started to decline. Cannisnia Plantation, LLC v. A well was spud on March 28, 2006.

Operator 40

Operator Dry Hole Spud-in Abandonment 40

Aresco

DECEMBER 17, 2024

Dry holeswhere no commercially viable oil or gas is foundare a real possibility. 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. Exploration Risks: Drilling for oil and natural gas is not a guaranteed success.

Crude Oil 52

Crude Oil Exploration and Production Oil Natural Gas 52