Reviving Distressed Wells

An Ounce of Prevention explores where energy, law, and real-world operations collide. Each episode pairs timely legal insight with practical conversations from operators who know the field, focusing on the decisions that actually move the industry forward.In this episode, the spotlight is on distressed oil and gas wells, assets that are often overlooked, underfunded, or written off as companies move on to flashier plays. You’ll hear how experienced operators see opportunity in these forgotten wells, using disciplined operations, automation, and wellbore-only strategies to bring production back online.It’s a grounded look at how value is created not through hype, but by knowing what to fix, when to act, and when a simple switch can make all the difference.Caselaw Update:The update covers Miko, LLC v. Targa Gas Marketing, LLC, a decision from the U.S. Court of Appeals for the Fifth CircuitThe dispute arose out of Winter Storm Uri (February 2021) and focuses on how far a natural gas seller can go in relying on a force majeure clause under a NAESB (North American Energy Standards Board) gas contract.Time Stamps:00:57 – Caselaw Update: Winter Storm Uri and force majeure04:53 – “Stick to the contract” takeaway and risk mindset05:19 – Introducing John Benevides and New Height Energy05:59 – What “distressed” oil and gas wells really mean06:37 – Why vertical wells get ignored as operators chase horizontals07:28 – Wellbore-only deals explained08:43 – Shared infrastructure and legacy asset challenges10:19 – Turning shut-in wells back on with minimal intervention11:15 – Automation and personnel efficiency in distressed assets14:28 – Why aggressive bids on distressed wells often fail15:45 – Performance bonds, plugging liability, and hidden risks19:19 – Case study: ~2 BOPD turned into 100+ BOPD21:06 – Growth strategy built around distressed wells