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It seems that the well is located in the graveyard. I have shown below, some info about the parish taken from Letters Containing Information Relative to the Antiquities of the County of Waterford Collected During the Progress of the Ordnance Survey in 1841 on the Waterford County Council website.
NAME. This Parish is called by the natives in Irish Baile U? Laithn?n or Ui Fhlaithnen, which signifies the Townland of O'Lahneen. and in the Down Survey it is spelled Ballylanheene,which comes very near the original Irish name. The old Parish Church of Ballylaneen was situated on level ground in the Townland from which its name was derived but no part of the building is now traceable except a very small part of the foundation of the west end. The graveyard is enclosed and contains several head stones but no monument or remain of antiquity except a holy water font. "Patterns" are held  here on St. Anne's Day, the 26th of July, but the Priest will abolish them.
Hope this helps