I am looking for information on how a private oil well makes money. Who do they sell to? Do they have co-ops? what is the industry and value chain l
If you have not already seen the industry overview entitled OIL DRILLING & GAS EXTRACTION IN THE US (21111) in IBISworld http://libguides.babson.edu/ibisworld , take a look - especially at the operating conditions section.
You may also find it helpful to consult Standard & Poor's NetAdvantage http://libguides.babson.edu/sandp , which has a report entitled OIL & GAS: EQUIPMENT & SERVICES; see in particular the following two sections: HOW THE INDUSTRY OPERATES, and HOW TO ANALYZE AN OIL & GAS EQUIPMENT & SERVICES COMPANY.
I have been more apt to find the terminology "independent producer" rather than private oil well, and wonder if and how the two might be interrelated. Perhaps because of the high costs involved in oil drilling and the rental/leasing of equipment in the industry, that is why I have seen references to contractual relationships between the publicly-held company and independent producers who might be hired to drill a specific oil well.
In terms of private relationships in the oil industry, the report entitled ENCHANCED OIL RECOVERY: TECHNOLOGIES AND GLOBAL MARKETS available through BBC Research http://libguides.babson.edu/bcc was the single best document I could find; many of these companies skirt the oil drilling industry.
You might try Science Direct http://libguides.babson.edu/sciencedirect for article searching; there are publications that skirt both the science and economics area such as ENERGY ECONOMICS.