From: "Geo." 

"John Cuccia"  wrote in message
news:1s6mc01ngthdkjn7oaoesv8o5lkpf629pe{at}4ax.com...

> >Why do that, there are tons of Oil wells on dry ground in the US already
that
> >aren't being pumped at all.
>
> Where?

All around ohio for one. About 20 years ago they started putting wells on
farm land, the oil company would lease mineral rights for 100 years in
exchange for a percentage based on how much oil was pumped. It averaged out
around
$3000/month for a well so a lot of people let them do it, then a few years
later they started shutting the wells down and stopped making payments. The
claim was that oil got too cheap to make it profitable. They played a lot
of games to get out of making payments too, some oil companies went chapter
11, some were split and sold, etc.

My best guess was it was just a way to get ownership of the oil fields here
so nobody else could get them. But what I see all over around here are a
bunch of oil wells (small ones) that just sit there motionless day after
day. At a guess in my county  alone there are probably a couple hundred.
State wide there must be thousands. I haven't seen one pumping in years.

Geo.

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