I used to do a little bit of oil and gas accounting several years back. The short of it is that the wells you're seeing are simply not profitable. The major oil companies will drill wells and run them until they can't make money on them. There are a host of small companies that will buy these wells from the majors and run them until *they* can't make money on them (that's where we came in). After that, they aren't run simply because you can't make a dollar doing it.
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