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Posted on 4/1/26 at 4:27 pm to Boston911
I dunno, but in 2012-2014 Freeport was actively pursuing the same concept albeit in Acadia Parish. They had the leases set and were preparing to bring in a rig,etc when the price started to dive in October of 2014 that well was going to be at least 25000 feet as well.
A hole to hell was what they were calling it.
A hole to hell was what they were calling it.
Posted on 4/1/26 at 6:21 pm to hubertcumberdale
Pretty sure it was vertical. I was with XOM when they drilled the original hole to ~30k and know 3 of the guys that were on the rig. MacMoRan took it over and deepened to current depth. For a long time it was a well nobody would mention in certain company.
Posted on 4/1/26 at 6:34 pm to yakster
quote:
Companies come in and suck out all the oil and gas. A few people get richer because of connections, and the company make millions. And the state? Poor as ever.
OK, let’s not drill any more O&G wells in LA then. Fair enough.
Posted on 4/1/26 at 6:47 pm to yakster
quote:
Companies come in and suck out all the oil and gas. A few people get richer because of connections, and the company make millions. And the state? Poor as ever.
The state gets royalties on O&G produced from state lands.
The state gets taxes on all O&G produced, including from private lands.
Is leaving O&G underground a better solution?
Posted on 4/1/26 at 6:57 pm to BabysArmHoldingApple
quote:I have a JIB for a 2-mile Haynesville well drilled 2023. First year property tax $500,000.
The state gets royalties on O&G produced from state lands. The state gets taxes on all O&G produced, including from private lands. Is leaving O&G underground a better solution?
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