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northeastern Ohio | Local driller has a gas well on my property that is about 30 years old. Makes more brine than gas. He wants to either sell it or plug it. He won't set a price, but wants me to "make an offer". If he sells it, he will pull the tubing and cap the casing as well as remove the separator and tank. If he plugs it, he would remove the casing.
My question: what is 900' of 8.625" used casing worth? It doesn't concern this deal, but what is 6000' of used tubing worth (I'm not sure of the size, looks like maybe 1.5")? Is there anywhere on the web that has prices listed for new or used?
It's been thirty years since I've heard of anyone buying a well. Back then it was valued at salvage value minus plugging cost. Well inspector told me plugging today costs about $20k. Well owner tells me he can plug it for $10k, but he thinks the casing is worth big bucks. I offered him a dollar for the well and he laughed. I told him to plug it but he thinks I should just offer him more. I told him that he is the owner and should set the price.
Anyhow,,, anyone have a ballpark on the casing value? | |
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salvage value of shallow natural gas well
