I understand what you are saying there. It is very likely that 50% of the price paid for those wells went into the first two layers of promotion. Vencador and NCEP. Cut the price of the wells in half, and the would make economic sense even at todays price. Those are $75,000 wells. The guy from NCEP claims they need to make money, blah blah blah. In the industry, that guy take his sweat equity in WORKING INTEREST, not cash. That way he needs for it to work in order to come out ahead. When you pay someone to turnkey drill and complete a well for you, they want to get it going into the tanks as cheap as possible, regardless of the consequences of poor services or equipment. In other words, they make their cash up front, then hope you do not pay for the operating expenses so they get it back at zero cost basis.
