It's actually 344 ac I believe Einstein. Typically 1 well per 40 ac where reservoir is approx horizontal, so around 8, but the best production often comes from steeply dipping fault compartments near to the central part when it comes to salt domes. Also, reservoirs are often 'stacked' (multiple reservoir beds with sealing formations between them) so you can get several wells in close proximity draining reservoirs at different levels. The Texas Railroad Commission is the authority that makes the rules (O & G-wise) in TX and I'm not entirely sure what they say about these circumstances. But on your other question about what happens when it's been fully drilled out, these wells are typically v long life producers - 30 years or so - and produce at modest rates but highly reliably. TTE would either simply use it as a cash cow to fund other exploration, etc, or maybe sell the project on if the deal was right.
GEV Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
