POL discovers largest reserves of oil and gas in Punjab

[wiseone2]

'21 million cubic feet of gas and 2,520 barrels of oil per day at choke size of 40/64"at well head flowing pressure of 3,768 psi'

Is this not large enough?

2250 barrels of oil per day works out to $150,000 of petrlouem. I will take it.
I have seen oil wells in texas that take out smaller amounts

 

[niaz]

2250 barrels of oil per day works out to $150,000 of petrlouem. I will take it.
I have seen oil wells in texas that take out smaller amounts

You are right Sir,

I know a couple of friends who bought & operated a 120 bbl per day oil well after retiring.

Production from the oil well would drop to a trickle when the oil field is near exhaustion and would eventually cease all together. Since all the investment in the field would have been recovered many times over by this time; operating companies would sell the lease to the individuals / partnerships ( often ex-employees) who operate the oil well as ‘Self-employed’ .

Simple rule of thumb being that it takes between $500,000 to $750,000 per year to continue operating an old oil well depending on its location and the depth. At $50 per bbl the B /E comes to 15,000 bbl per year or about 50 bbl per stream day. Hence a well producing 120 bbl per day will yield reasonable income to the operators. Naturally when the production drops below what the operators think is worth their while, oil well would be abandoned.

However such wells are not new discoveries and never touted as a large finds.

 

[Mumm-Ra]

I think the OP meant that this particular field is the largest discovered in Punjab. As per my knowledge, most of the oil and gas reserves are in Balochistan, Sindh and KP. Punjab has very little oil and gas reserves. This field may be the largest in Punjab. Better ask OP to explain more clearly.
@bacho