But stripper wells weren’t dried up. They ceased producing commercially viable amounts of oil, and were abandoned. The economic situation changed as far as oil is concerned, and what wasn’t economically viable, became economically viable. This was further enhanced by tax breaks for running under-producing wells. The wells didn’t start producing more oil, the small amount they could produce just became profitable. The very definition of a stripper well is a well that can only produce 10 barrels a day.
You are correct. Mea culpa. However, I have friends and former coworkers telling me that there are numerous active drilling rigs in the Permian Basin. There would be a few on Otero Mesa right now, if it weren’t for a fella’ named Bill Richardson