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Simple English definitions for legal terms
stripper well
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A quick definition of stripper well:
A stripper well is a type of oil or gas well that produces only small amounts of oil or gas. These wells are not very productive and are often found in states like Kansas and Illinois. They are called "stripper" wells because they strip the remaining oil or gas from a field that has already been heavily drilled.
A more thorough explanation:
A stripper well is a type of oil or gas well that produces only small quantities of oil or gas. These wells are also known as marginal wells because they are not very profitable due to their low production rates.
For example, in some states like Kansas and Illinois, stripper wells are common. These wells are limited in their capacity to produce oil or gas, and they are only able to produce a portion of their monthly allowable due to market demand.
Another type of well is a limited-capacity well, which is an oil or gas well that is also limited in its production due to market demand.
Overall, stripper wells are not very profitable, but they still play an important role in the oil and gas industry by providing a steady supply of oil or gas, even if it is in small quantities.