The Energy Law Blog
JUNE 2, 2017
Justiss”) entered into a turnkey drilling contract to drill a deep oil well using intermediate casing purchased from Oil Country Tubular Co. The casing pipe was API certified to a particular pressure and one of the Defendants’ owners represented to Justiss that the pipe was fit for its intended use. Justiss Oil Company, Inc.
The Energy Law Blog
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.
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.
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