What is a New Well? Exploring Its Legal Definition and Significance
Definition & Meaning
A "new well" refers to a well that meets specific criteria outlined in legal statutes. According to US law, a new well is defined as:
- Any well where the surface drilling began on or after February 19, 1977.
- Any well that has had its depth increased through drilling on or after February 19, 1977, to a completion location at least 1,000 feet deeper than the deepest completion location achieved before February 19, 1977.
This definition is important in the context of natural gas policy and regulation.