Higher crude prices make old wells worth retapping...

Believed to be near the end of its productive life, at one time, the Jay oil field is making a comeback,
thanks to $100-a-barrel crude prices.
When first tapped in June 1970, the Jay field in northern Santa Rosa and Escambia
counties in Florida were estimated to contain 1 billion barrels of oil in reserve, one of the largest discoveries in U.S. history.

Quantum Resources Management purchased the field from Exxon and ConocoPhillips
last year for a little over $200 million dollars.

The deal fit perfectly into Quantum's business plan: Buy up aging oil and gas fields and
use advanced extraction techniques to squeeze out the remaining reserves.

Although I believe the idea behind Quantum is smart from a business standpoint,
I've not seen where it truly benefits the small guy in the future.
Considering the fact that the wells sit basically in the 'backyards' of many of us that don't own the land itself, (no royalties)..the drilling is a nuesense to say the least.
24 hour lighted shifts from the site for weeks at a time.
Noise and the potential for leaks is always a issue.
Impact on the enviroment? Well, instead of drilling new wells, retapping for existing resources
is definitely better for the enviroment in my opinion..

But when it comes to impact for a society...I think only the big boys will reap the rewards in the end!

This image was captured from my home. It is a well being retapped approximately 200 yards from my back door.
The company was there about a month on this one well.
It is only one of three wells within my viewpoint.
Sleep becomes the priceless comodity when a well is being retapped in my neck of the woods!