RE:RE:RE:RE:RE:20000 achieved as at Year End 85 would be a tad high for a dry hole cost, but pretty cheap for dry hole plus evaluation costs. I do know rig delays if there are any due to breaks or malfunctions right now can be amplified due to global shipping constraints. If they don't have parts locally at a dock it can be a while for replacements.
To be honest, depending on how the well was designed they may not even reuse it as a production well. I'm less familiar with regulatory design requirements there, but not knowing potential fluid quality would have an impact if they even intend to reuse the well bore. Given it's generally more expensive to design and drill a well that maintains flexibility to reuse as a future production well, it's usually not a great option for wildcatting well designs or smaller operators. If they find something material, redrill costs will be pretty nominal in the grand scheme of things depending on the kind of facility they put in
Not from Hale, name is a nod to there will be be blood. I've been a long time lurker/investor since the pre-reverse split days, but no longer have any direct or indirect ties to the basin so I feel comfortable chirping in every so often now. Honestly, I only sort of remembered they were drilling again, but the run up made me curious to see if there'd been any new news.