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Just The Facts, Ma'am
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<blockquote data-quote="vantexan" data-source="post: 5277147" data-attributes="member: 24302"><p>Having a drilling permit isn't the same as having a proven well. Getting a permit is the start of the process. The oil companies have to do geological surveys on these properties. They have to build roads to transport equipment to the property if it looks promising. Spend a lot of money on equipment and manpower. A lot of these companies doing the exploration and drilling aren't the size of Exxon or Shell, they're little wildcatters. If the well doesn't pan out they're out of money. And this is with the backdrop of a Federal administration that is hostile to them. Also oil companies often have multiple permits for multiple wells in a given area. If the first one they drill on doesn't produce then the rest of the permits go unused because it's likely they won't produce either. And a lot of permits go unused because the oil company trying to use it is hung up in court because either a neighbor or local government is trying to prevent them from drilling there. There's a lot more to it than they have a permit so start pumping oil out.</p></blockquote><p></p>
[QUOTE="vantexan, post: 5277147, member: 24302"] Having a drilling permit isn't the same as having a proven well. Getting a permit is the start of the process. The oil companies have to do geological surveys on these properties. They have to build roads to transport equipment to the property if it looks promising. Spend a lot of money on equipment and manpower. A lot of these companies doing the exploration and drilling aren't the size of Exxon or Shell, they're little wildcatters. If the well doesn't pan out they're out of money. And this is with the backdrop of a Federal administration that is hostile to them. Also oil companies often have multiple permits for multiple wells in a given area. If the first one they drill on doesn't produce then the rest of the permits go unused because it's likely they won't produce either. And a lot of permits go unused because the oil company trying to use it is hung up in court because either a neighbor or local government is trying to prevent them from drilling there. There's a lot more to it than they have a permit so start pumping oil out. [/QUOTE]
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