Several wells were drilled north west of my house, approx 20 miles, that were around 3700 feet deep, and free flowed into the tanks for a month without a pump. The reason the perception was we had no oil, is due to the drilling cost. Oil has to be above $70/ barrel for it to be profitable. America is one of very few countries were the oil companies have to deal with individual mineral rights owners and not the government collectively. In other words they get away without paying large royalties. Typically here in the US they pay a 30% royalty to the mineral rights owners. That money is usually split up in 1/8 ths rights or however it was originally. I have a 0.00223230 interest in a well my grandfather had a 1/8 right to from the 1940s. I SPEND the money, and so do the others. Especially because it doesn't amount to millions but hundreds a year for me.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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