stripper well


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stripper well

[′strip·ər ‚wel]
(petroleum engineering)
References in periodicals archive ?
Stripper wells, by definition, produce less than 20 barrels of oil a day.
2] Stripper wells are oil wells that produce 10 or fewer barrels of oil per day.
With just the 340,000 stripper wells in the US, the possibilities of Services, Joint Ventures and owner operator are very large numbers.
Ellis stated: "I look forward to working with the board of directors in building Black Dragon's oil reserves through application of state-of-the-art technology to significantly increase oil production from our existing stripper wells.
Frank Love states, "In recent press releases, I discussed $270 million worth of oil sludge in Bashkorstan, Russia; an oil field with 48 million barrels of oil reserves (with today's price range of $50-$60 a barrel) in the Samara region of the Russian Federation; hundreds of thousands of Stripper Wells available in North America; the acquisition of Wales Holding Corp.
Paradigm Oil & Gas has several proven oil production leases and options for many more and also holds the rights to the Centurion Technology and we own rigs that target the shallow stripper wells.
Debt financing will also be used for our other projects, like acquiring hundreds of the thousands of Stripper Wells available in North America.
Reid, Chairman and CEO of Treaty Energy Corporation, stated, "Treaty will pursue drilling and rework opportunities that offer greater initial production and better ROI in the future, rather than reworking and operating stripper wells.
These costs in combination are the principal factors that prevent marginal stripper wells from remaining in production.
Included in the leases, within the Gunsite formation at 700 feet, are 15 stripper wells that Monarch intends to rework to enhance current production.
We have targeted stripper wells, shut-in production, capped wells, new in-field development wells, and under-exploited properties as our opportunity to become the next major independent oil and gas producer, while implementing strong conservational policies in our oil and gas production.
If the well has good production shows but low speed delivery; as many shallow stripper wells do (some wells can take a month to fill up).