Wednesday, August 01, 2007 9:55:35 AM
I have thought about that as well, however, i thin that 3.2 acres is the number of acres that need to be "disturbed" in order to drill. I have had a look at a couple of websites and found that even though some companies have hundreds of acres, they only permit out a small number because the acreage set aside for drilling is classified as "disturbed" and must be reclaimed when things are done. Also, the fees for the disturbed acreage is pretty steep.
For o&G drilling in Utah:
"Among other things, companies must employ horizontal drilling and multiple wells per drilling pad to minimize the amount of disturbed acres."
pdf for the permit fees:
https://fs.ogm.utah.gov/pub/mines/minerals_related/forms/MR-EXP.pdf
I actually think that since the company has set aside only 3.2 acres to be disturbed by drilling shows that Berman has given great thought about where to drill so as to disturb the least amount of land so as to reduce the costs associated with reclamation.
Kona Gold Beverage, Inc. Updates Multi-Million Dollar Merger and Posts Over $1.2 Million in Q3 Revenues • KGKG • Nov 15, 2024 10:36 AM
HealthLynked Corp. Announces Third Quarter and Year-to-Date 2024 Results with Strategic Restructuring, Third-Party Debt Repayment, and Core Technology Focus • HLYK • Nov 15, 2024 8:00 AM
Alliance Creative Group (ACGX) Releases Q3 2024 Financial and Disclosure Report with an increase of over 100% in Net Income for 1st 9 months of 2024 vs 2023 • ACGX • Nov 14, 2024 8:30 AM
Unitronix Corp. Publishes Its Cryptocurrency Portfolio Strategy • UTRX • Nov 14, 2024 8:05 AM
Avant Technologies and Ainnova Tech Form Joint Venture to Advance Early Disease Detection Using Artificial Intelligence • AVAI • Nov 12, 2024 9:00 AM
Swifty Global Announces Launch of Swifty Sports IE, Expanding Sports Betting and Casino Services in the Irish Market • DRCR • Nov 12, 2024 9:00 AM