InvestorsHub Logo
Followers 4
Posts 523
Boards Moderated 0
Alias Born 05/02/2008

Re: Sputnik post# 43340

Friday, 01/09/2009 5:51:01 PM

Friday, January 09, 2009 5:51:01 PM

Post# of 51429
Sputnik - small production oil wells like these in SEK do not have flow meters mounted on the production lines by the pump jack. The most common way to read production is from gauging the tank. You literally drop a steel tape measure or wooden stick into the oil storage tank and record the number of inches from bottom of tank to the top of the oil. Each tank has a conversion rate to show # of inches equals how many barrels.

Sounds kind of crude (no pun intended) but that's the way I gauged my oil production in TX in 1988-90. From my memory, my oil storage tank conversion was 1.2 inches = 1 bbl of oil.

If you saw any kind of meter on the well head, it was probably a simple pressure gauge to monitor the gas build up since most oil wells also produce some gas also.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.