Kansas Well Takeover

State:
Multi-State
Control #:
US-OG-491
Format:
Word; 
Rich Text
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Description

This is a Well Takeover form, the assignor shall have the option to take over any well, such option to be exercised by mailing or otherwise giving notice to assignee of assignors intention to take over a well.
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FAQ

In 1996, the Abandoned Well Plugging and Site Remediation Fund was established, creating a plan to address abandoned oil wells around Kansas. At the federal level, President Joe Biden signed a bill Nov. 15, 2021, creating an orphaned well plugging, remediation and reclamation program with the Department of Interior.

More than 17,000 orphaned wells have been discovered in Oklahoma ? remnants of oil and gas booms in years past. Their owners are gone or long-forgotten. If an abandoned well's owner cannot be found, it's considered orphaned and it becomes the state's responsibility to plug and clean up.

In 2021, the average oil well produced 26 b/d (or roughly 33.5 BOE/d if including natural gas), and the average natural gas well produced about 181,647 cf/d (slightly more than 33.5 BOE/d of total oil and natural gas). The distribution by well size, however, is generally skewed.

The average depth of a Kansas well today is approximately 3,500 feet. The cost of drilling and equipping an average 3,500-4,500 foot well can be approximately $450,000. At approximately $180,000, the cost of a 3,500-4,500 foot dry hole is considerably less than a fully equipped producing well.

Well Drilling The drilling of a modern shale well can take two to four weeks.

Cost depend on the depth and complexity of the well. Modern horizontal well drilling costs can easily exceed $4,000,000 just in the drilling phase. Without drilling complications these wells generally take about 3 weeks for the drilling phase.

Kansas Oil & Gas Activity Stats CategoryLast Year ValueCurrent Year ValueTotal Wells428,432429,917Total Producing Wells14,17013,881Percentage of Wells Producing3%3%Active Producers4174013 more rows

Kansas Frequently Asked Questions QuestionsAnswersHow many active producers are there in Kansas?There are currently 401 active producers in the state of Kansas.What is the average depth an oil or gas well is drilled in Kansas?2,633 feet is the average depth of a well in Kansas.4 more rows

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Kansas Well Takeover