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Oilfield
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<blockquote data-quote="Caustic Burno" data-source="post: 1418375" data-attributes="member: 694"><p>That is a scheme of the tax district.</p><p>They know on a gas well 50% of the production is in the first year with diminishing returns over the next 9 years. The average oil well in this country produces 16 barrels per day as well. The well may produce over the next couple of decades very few will equal the production of the first</p><p>year even on an accumulation basis.</p><p>Seems like I have to fight the idiots every year.</p><p>The biggest PITA is an old well on my grandpas place that been producing since the 40's. lucky if you get a 250 dollar royalty check a year.</p></blockquote><p></p>
[QUOTE="Caustic Burno, post: 1418375, member: 694"] That is a scheme of the tax district. They know on a gas well 50% of the production is in the first year with diminishing returns over the next 9 years. The average oil well in this country produces 16 barrels per day as well. The well may produce over the next couple of decades very few will equal the production of the first year even on an accumulation basis. Seems like I have to fight the idiots every year. The biggest PITA is an old well on my grandpas place that been producing since the 40's. lucky if you get a 250 dollar royalty check a year. [/QUOTE]
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