Stripperwells even called low producing wells are wells that produce less than 10 Barrels Of Oil Per Day (BOPD).
In Texas alone there are 141,582 oil wells (last count), and 79.4% of these produce less than 10 BOPD which categorizes them as marginal or stripper wells. Many oil leases with stripper wells have been shut down or abandoned which makes the process easier to lease these wells.
Why
Nidhogg Resources find these wells interesting are the possibility of Re-work
to increase the pressure in the formation or find new zones known as
"behind pipe". By doing this this the well can double its production
and lifetime.
