> For the Investor:
To find out more about Stanotex, and
to inquire about investing in a current Stanotex prospect,
click the Request Info link below.
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Orphan Well
Reduction Program |
House Bill 2161, enacted by the 79th Texas Legislature
(2005), established an Orphaned Well Reduction Program
(Section 89.047, Texas Natural Resources Code). This
new program, which became effective on January 1,
2006, includes procedures, requirements, and incentives
for a person to assume operatorship and regulatory
responsibility for orphaned oil or gas wells. An "orphaned
well" is a well for which the Railroad Commission
(Commission or RRC) has issued a permit, for which
production of oil or gas or another activity under
Commission jurisdiction has not been reported to the
Commission for the preceding 12 months, and whose
operator's RRC-approved P-5 Organizational Report
has lapsed.
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An orphan well, is a well for
which the TRRC has issued a permit for production
of oil and gas that has not had proper reporting
to the TRRC for the preceding twelve months.
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Orphan wells concern a concentration
of producing gas wells abandoned by an operator
that went bankrupt in 1991. Wells were producing
in economic amounts at the time of bankruptcy, and
were simply shut-in. Program is to reopen these
wells, concentrating on those wells that still have
surface facilities, economic production at the time
of shut-in, and potential up hole potential for
additional gas.
Average
well depth – 4000’
Average
well cost - $50,000
Initial
production estimate – 125 MCFE/D
Average
recovery – 10,000 BOE
Exemption
from State Revenue Severance Taxes
Feel free to if you are interested in learning more
about Stanotex, oil and gas investments and to discover
if investing in oil and gas is right for you. |
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If you are interested
in determining if you are qualified for an oil
and gase investment, please completed the short
form below: |
* indicates required field
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It's time to invest for $100 oil...
 |
Investors, get ready for $100-a-barrel
oil. Energy experts sya this kind of portfolio-wrenching
spike in the price of iol isn't far off. They chalk
it up to two factors:
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