So the oil would generate @ $40 a yearly revenue of:
230 bbl x $40 x 365 = $3.36M
The gas would generate (if it can be distributed) @ $3.81 a yearly revenue of:
450 mcf x $3.81 x 365 = $0.63M
Is this considered a good well (good revenue)?
What's the yearly cost for such a well?
How many years until it's dry?
How many more wells could be drilled in that area?
As you can see I've not much experience in oil & gas.
Is the other company applying for a permit a separate company from WLL/STTX? If so, does it have their own lease?
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