Bottom line is that BRK own 80% of the Rangers leases everyone else own 20%. If the 20% think the well is a cracker then they have the option to contribute 20% of the drill costs and get 20% of the well production.
If they think it is a duster they can opt out and BRK have to stump up 100% of the drill costs.
Given they are participating the big guys obviously know the well is a cracker. Doubling the size of the tank capacity was a give away on the potential.
Dan would probably have a more articulate way of expressing this. In fact he has posted extensively on this topic previously.
Ann: US Majors Join in Rangers Well, page-37
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