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 40

Operator Spud-in Dry Hole Oil 40

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 40

Casing Oil Dry Hole Manufacturing 40

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 52

Crude Oil Oil Exploration and Production Natural Gas 52