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Seekinvalue, as others have already stated, your assertions are based on historic information from over a year ago when the well hadn't been fully completed and tested.
While the rest of us are awaiting up to date production test results from the company, you appear to be promoting an assumption-based negative view.
I wonder if there is a hidden agenda in play here.
Seekinvalue, if 12 days of production gave 815bbls. At $75 per barrel that would be approximately $150,000 per month in revenue from one well. Multiple wells of this type could bring in millions per month.
Thanks Adon30.
Also, the last time I looked, there was a logfile to download for well 16-2 which was giving last year's data. It's now gone.
Just nice to know things are moving. Further, the 'Well Type' is flagged as 'oil'.
So 16-2 has been designated a producing oil well on the Utah government's website. Soon enough we'll know the volumes.
In relation to pipelines, are we not jumping the gun a little bit? We don't even know how many boe's these wells are capable of producing. It would be pretty pointless to pay for a whole infrastructure, if there's nothing to pump through it.
Posting the link in case some people weren't familiar with this website (I wasn't):
https://oilgas.ogm.utah.gov/oilgasweb/live-data-search/lds-well/well-lu.xhtml
I selected 'Operator' from the 'Choose Search Criteria' dropdown.
Then 'Close' the API Well Number row.
Typed in Rose Petroleum into the blank box on the Operator row.
Then clicked Search.
Some useful information on there.