Back in the early 1980’s I roughnecked for a couple of summers. The first summer all of the holes were “dry”. The geologist said that we had stopped just before hitting the production zone. So I guess the thinking was to drill most of it, and then finish the last of it when the oil prices were higher. (Labor higher as well). And take the tax write-off on a dry hole.
But I’m guessing that once you start producting, esp. with fracking, you want to keep the product flowing.
Pretty expensive to spend the cost of a drilling rig and crew and not get any return, without proving the well location to count on it for later.