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12. lease a has a known productive horizon of 15,000 feet. a well is drilled to 10,000 feet. would the well be classified as an exploratory or development well?

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A development well is dug in a region that has a history of producing oil or gas. When compared to an exploratory well, which is one that is originally dug to look for oil or gas in an untested location, it is the opposite. Therefore, dry development wells are less common than dry exploration wells.

An exploratory well is what?

  • A well that was dug to determine the existence of a potential petroleum deposit or to gather data for deposit delineation. Wildcat and appraisal wells are collectively referred to as exploration wells.
  • A development well is dug in a region that has a history of producing oil or gas. When compared to an exploratory well, which is one that is originally dug to look for oil or gas in an untested location, it is the opposite. Therefore, dry development wells are less common than dry exploration wells.
  • In order to find proven reserves of recoverable gas and oil, both onshore and offshore, oil and gas exploration companies dig deep test holes known as exploratory wells.  

To learn more about exploratory wells refer to:

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