$4500-$6000 a acre next to a plugged well. this is going to be interesting.
This statement .” Producing natural gas and natural gas liquids, the sites failed to produce crude oil which is more profitable in today’s economy." Hmm well then why are the biggies so H bent on the wet gas areas? Why is it that they are not H bent on the oil window? Could it be that they may be afraid of market saturation that might lower oil prices, as they have with natural gas?
If they produced 1 MCF of gas and 1 bbl of NGLs then they produced gas and wet gas. Can't make your money back off of extremely low production. So again what came out is irrelevant if none of it was profitable. It wasn't profitable, obviously. You don't P&A good wells.
Because they did not go deep enough.