- Wells may not produce enough oil or gas to recover the cost of drilling and completing them. Again, we believe multi-well programs reduce this risk.
- Every venture is entered into using estimates of the total cost to drill and complete a well. These estimates are drawn from our combined years of experience and with input from our service providers, however, even the best of estimates might not cover unexpected expenses such as drilling into a void or cavern into which we lose a large quantity of drilling fluid that must be replenished. Because we do not offer "Turn-Key" drilling programs, the extra cost of an event like this must be borne in pro-rata share by the working interest owners. Likewise, any savings in the cost of drilling the well will be shared by our partners.
- The environment is of concern to Ranken and should an accident occur that might damage the environment, an oil spill for instance, we will be quick and thorough with our remediation effort. If a part of that expense is not covered by our insurance, it must be borne in pro-rata share by the working interest owners. In this regard, in the years Ranken has been operating we have often been inspected by representatives of environmental agencies and we have never been cited on an environmental issue, in fact, we have been commended for our efforts.
Although Ranken has been successfully operating since 1986, the past success of our company
does not necessarily guarantee success
in the future, in spite of our best efforts.
If you would like additional information, please contact us at the address,
phone numbers or email address on our Contact
If you would like additional information, please contact us at the address, phone numbers or email address on our Contact page.