The Energy Law Blog
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.
The Energy Law Blog
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.
Aresco
DECEMBER 17, 2024
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. Even with advanced technology, there is always a risk that a well will fail to produce, resulting in losses and the opportunity for passive income.
Expert insights. Personalized for you.
40 
Let's personalize your content