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Eagle Ford: Stockdale EDC directors address abandoned oil wells
STOCKDALE -- The directors of the Stockdale Economic Development Corp. (SEDC) focused on the marketing of the Stockdale Industrial Park and the closing of abandoned wells within the park during their Sept. 11 meeting.
According to SEDC President Frank Bain Jr. after the meeting, the directors have two options to pursue the closure of the six to nine oil wells abandoned in the 1970s or early ’80s.
The Texas Railroad Commission has funding available for closing abandoned wells. But since the wells located within the park were abandoned before state funding was made available, Bain said the directors are investigating if the wells are on the state list for closure or if they are eligible for state assistance.
A second approach, Bain said, is for the SEDC to close the wells without state funding.
These abandoned wells have been a stumbling block for selling sites within the park, Bain said. The directors are willing to budget money to close all the wells. To do this, Bain explained, the directors are exploring what method to use, to be in compliance with the Railroad Commission. In the past, the estimated cost received by the SEDC for closing one well is $6,000 to $12,000.
Also during the meeting, the directors:
•Worked on their fiscal year 2012-13 mission statement and budget, to be presented to the Stockdale City Council in the near future.
•Welcomed Roger Armstrong and J.C. Hrubetz to the board. Armstrong filled the vacancy left by the resignation of Josh Hussong. Hrubetz was appointed at the last meeting.
•Heard an update from Stockdale City Manager Banks Akin on the status of the U.S. Department of Agriculture Rural Development infrastructure loan for the city.
***In attendance: Sept. 11 Stockdale EDC meeting, Directors Frank Bain Jr., Gary West, Polly Stryker, L.H. West, J.C. Hrubetz, and Roger Armstrong, and Stockdale City Manager Banks Akin.
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