Paul,
That's quite a bundle of wire you got there. I can only assume that the well pump was at a lower level at one time, or they just wanted to have lots of spare wire.
I'm also assuming that there is a submersable pump at the bottom of the casing? Do you have any idea how deep the casing goes?
From your photos, I couldn't see if there was a pressure tank there or not. Your text seems to imply that there is. Also, is that a pump I see in one of those photos? I think I could make out a motor, but I can't be sure.
I'm going to make a stab that all the coiled wire is "leftover" somehow for the submersable pump. If that's the case, I would open up whatever junction box is in there and cut off and re-attach the wire to eliminate the excess. Number two, I would put a real cover over the casing to keep out critters and other undesirable stuff.
Beyond that, if that is a pressure pump that I saw in the photos, I would just make sure that the cover (if any) is good enough to keep critters and rain/snow out. I suspect that the underground arrangement is to protect from severe cold?
The GlueGuy