Revenue Payout oil & gas sold - ESTIS#1 - Lippincott#17 - UPDATE!
The oil that was sold back in July will be paid out as soon as possible, the operator needs to be in control of all ownership in their payment system, which caused some problems so they are behind.
We expect things to be resolved during the next week. more news follows here on the page that we receive.
The oil that was supposed to be sold in August was not picked up due to bad weather, this means that it is still in the tanks and we would like to have it picked up in September, we await news if this has been successful.
There are 10 connected wells so far and Sam is working on getting more started, however he has had some electrical challenges on a couple of the wells which has set him back. As with the ESTIS#1 project, we also expect oil sold this month, this will be the first sale of oil from this project.
Everyone is well aware that the Lippincott#17 project has taken significantly longer than originally planned, which of course is not satisfactory, which we can all agree on.
But sometimes you come across problems from the outside that you can't control, and that when you work with re-entry wells, technical challenges can arise at the wells that delay the process, that's how it is with companies with production facilities running.