I wonder how much this guy will actually be able to sell his oil for. I figure at $100,000 to build and pulling $400 a day he should be able to pay off one rig in less then a year.
And it's on his property so...build more I say!
1 posted on
05/19/2008 2:27:03 PM PDT by
Domandred
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To: Domandred
Hmmm. Perhaps a new home business has been created (at least for those who have oil in their own property and own the mineral rights).
2 posted on
05/19/2008 2:32:13 PM PDT by
SoldierDad
(Proud Dad of a 2nd BCT 10th Mountain Soldier home after 15 months in the Triangle of death)
To: Domandred
To: Domandred
Once this gets out, Al Gore and the radical environmental psychopaths are sure to try to force this poor guy to shut his little rig down.
4 posted on
05/19/2008 2:32:49 PM PDT by
jpl
("Don't tell me words don't matter." - Barack Obama, via Deval Patrick)
To: Domandred
Refine it and use it. Can you imagine the regulation nightmare of refining in your home?
To: Domandred
Looks like one price that might come down is the cost of backyard oil rigs.
6 posted on
05/19/2008 2:33:28 PM PDT by
Rennes Templar
( Never underestimate the difficulty of changing false beliefs by facts.)
To: Domandred
This will be the next cottage industry, there are untold thousands of wells in our country that were capped &/or abandoned in the last century when gasoline was free, and many have filled back up &/or re-pressurized in the meantime.
Now that it costs an arm & a leg to fill your gas tank, and drilling is more high tech., the home enthusiast has a new profitable hobby, yeah!
7 posted on
05/19/2008 2:35:38 PM PDT by
norraad
("What light!">Blues Brothers)
To: Domandred
Oil derrick by John Deere?
8 posted on
05/19/2008 2:37:59 PM PDT by
Excellence
(Daughter of the American Revolution, niece of the Civil War (North).)
To: Domandred
Why is this news?
I've got one, my neighbor down the road has one and my neighbor across the road has one--all gas-producing wells. There are about 2-3 per year being put in within 5 miles radius from my place.
13 posted on
05/19/2008 2:45:23 PM PDT by
Rudder
("There is only one chief. Obey him." [Rush Limbaugh, April 30, 2008])
To: Domandred
Just like with the oil industry as a whole—the ‘environmentalists’ will be all over this guy like ‘stink on ****’!
14 posted on
05/19/2008 2:46:45 PM PDT by
stockstrader
(CHANGE--a euphemism for further dividing our country along racial, social and economic lines)
To: Domandred
There are lots of costs involved with keeping a small pumping unit like that working.
In many cases the cost of lifting the oil out of the formation is more than the oil is worth.
The paperwork involved is enough to drive a drunk to AA meetings.
Only three barrels a day is a risky investment.
I wonder what his allowable is from the government?
Did he own the mineral rights?
If not he's probably going to have to pay the owner at least 12.5% of the oil taken.
Makes for a good story but if he spills any oil or salt water on the property it's Katy bar the door for the environmental hazard people and law suits from neighbors.
If all goes well he might be able to pay off the debt plus interest in a few years, that is if the formation doesn’t give out.
17 posted on
05/19/2008 2:50:10 PM PDT by
OKIEDOC
(Kalifornia, a red state wannabe. I don't take Ex Lax I just read the New York Times.)
To: Domandred
And just how long with this enterprising capitalist be able to continue? I’ll bet some liberal (Democratic Socialist) with the EPA will cite him for storing toxic substances.
To: Domandred
Was he shootin’ at some food?
21 posted on
05/19/2008 3:02:19 PM PDT by
Fresh Wind
(Never underestimate the power of stupid people in large groups.)
To: Domandred
very cool.
slippery, but cool.
23 posted on
05/19/2008 3:14:15 PM PDT by
the invisib1e hand
(The road to hell is paved with euphemisms.)
To: Domandred
To: Domandred
No good deed goes unpunished. With the publicity, the authorities will quickly act to carry out their mission in life: to enforce every law this guy had the gall to not ask them about. He will soon find out how expensive free oil really is.
To: Domandred
He drinks his OWN milkshake!
26 posted on
05/19/2008 3:26:21 PM PDT by
Clemenza
(I Live in New Jersey for the Same Reason People Slow Down to Look at Car Crashes)
To: Domandred
If he didn't mind the noise, he could dump that electric motor find a used engine to run off the well head gas to operate the pump-jack.
Pop'n Johnny
To: Domandred
29 posted on
05/19/2008 3:39:19 PM PDT by
BBell
To: Quix
30 posted on
05/19/2008 3:40:12 PM PDT by
Joya
(Lord Jesus Christ, Son of God, Savior, have mercy on me, a sinner!)
To: Domandred
31 posted on
05/19/2008 3:41:24 PM PDT by
BBell
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