Exploration or “wildcat” well: A deep hole drilled in an unproved area that is used to identify new sources of O&G.
Development well: Any well drilled in an area where oil or gas has previously been found.
Appraisal well: A well drilled as part of an appraisal drilling program that is carried out to determine the physical extent, reserves, and likely production rate of a field.
Offset well: A well drilled near other wells to assess the extent and characteristics of the reservoir. In some cases, this type of well is used to drain hydrocarbons from an adjoining lease or tract.
Stripper well: A well that makes a nominal volume of production each day, typically 10 bbls or less. Smaller independents sometimes acquire stripper wells and rework them to enhance production.
Shut-in well: A well that is capable of producing but is not presently operating. Reasons why a well may be shut in include lack of equipment or market.