TeachMeFinance.com - explain Redrill footage
Redrill footage The term 'Redrill footage' as it applies to the area of energy can be defined as ' Occasionally, a hole is lost or junked and a second hole may be drilled from the surface inclose proximity to the first. Footage drilled for the second hole is defined as 'redrill footage.' Under these circumstances, the first hole is reported as a dry hole (explanatory or developmental) and the total footage is reported as dry hole footage. The second hole is reported as an oil well, gas well, or dry hole according to the result. The redrill footage is included in the appropriate classification of total footage, but is not reported as a separate classification'.
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