Either way it is particularly disappointing when you drill a dry hole such as happened to the partners in the Blueberry Hill side-track well (EXXI was not among them), which found nothing and required a write-down in the quarter, surely a factor in the price drop of the stock.

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"But the nice thing about Ocean's position is, if they drill a couple of dry holes they can reload" with more prospects, Gillespie says.

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Vincent Signorotti of CalEnergy, which owns ten plants around the sea, is rather looking forward to the prospect of more dry land on which to drill.

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After we landed, the farmer we met grumbled that he had to drill his well deeper each year so he could grow more rice in the dry lands.

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Meanwhile, in dry gas plays like the Haynesville, Barnett and the dry gas portion of the Eagle Ford, companies are basically drilling only the wells they are required to drill under their lease agreements.

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