Author Topic: Is it time to start using...  (Read 4942 times)

K Frame

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Re: Is it time to start using...
« Reply #25 on: May 20, 2008, 04:42:35 AM »
I'm VERY surprised that that man has rights to the oil.

In a lot of the midwest you buy surface rights only, not the minteral rights to your property.
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charby

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Re: Is it time to start using...
« Reply #26 on: May 20, 2008, 05:23:36 AM »
I'm VERY surprised that that man has rights to the oil.

In a lot of the midwest you buy surface rights only, not the minteral rights to your property.

Here in Iowa you own everything under your property. There is a group of folks getting permission from landowners to drill in SE IA, figuring that they would be able to pump oil that over millions of years as seepage from the Illinois oil fields.

They are willing to split the profits 50/50 with the landowners if oil is found and can be extracted, no cost to the landowner except giving permission to drill.



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Marnoot

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Re: Is it time to start using...
« Reply #27 on: May 20, 2008, 07:34:36 AM »
Quote from: http://www.foxnews.com/story/0,2933,356606,00.html[/url" class="bbc_link" target="_blank" rel="noopener noreferrer">]

Greg Losh's rig produces three barrels of crude oil a day. . .

He declined to say how much oil they've collected in the two weeks they've been pumping.

Whoops, guess he kind of gave it away anyway. 42 barrels. Still have to get it refined, or sell it to someone who can.

Tallpine

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Re: Is it time to start using...
« Reply #28 on: May 20, 2008, 08:47:04 AM »
And then one day he was shootin' at some food ....

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Antibubba

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Re: Is it time to start using...
« Reply #29 on: May 20, 2008, 06:37:19 PM »
Quote
Three barrels a day is not bad at all for a homemade well! That could probably be really increased with a larger, more powerful (and more expensive) pumpjack.

I don't think that's a homemade pump.
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charby

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Re: Is it time to start using...
« Reply #30 on: May 21, 2008, 01:13:29 PM »
Iowa- 88% more livable that the rest of the US

Uranus is a gas giant.

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