Z-Man - I believe the pipes are to an old old water well. I believe the tank was inside the basement before - it has been long ago converted to natural gas and they used a metal cap to fill where the oil fill and such came in from outside. These two pipes are on a different wall away from all the HVAC and just hanging out! So the house uses city water now. Where the two pipes are going is where the well was. No water is coming through the pipes but I was thinking maybe around them but there is a good looking amount of concrete so I guess maybe its fine from the outside and I don't see any water trails inside. I'll have someone take a look from the outside. But perhaps since they are there solid I could just do a proper seal from the inside with the hydraulic plug?
Gogar - In terms of moisture...I don't have any active water leaks. The floor just had a french drain installed around the perimeter by the seller. My thought was to fix the walls up with cement or the hydraulic plug and then rubber coat from the inside first. If necessary I could backhoe the front and possibly coat from the outside but I think grading the lot will take care of any remaining moisture. So other than a good cosmetic patch - what did you do before finishing the walls?
Heres a product I am thinking about...you put some down, put their proprietary tape down...then put more over the tape. You then cover all the walls. Since there are no active leaks I don't know if I would dig from outside in but maybe coat the walls and keep an eye out before we put up drywall?
Ames' Blue Max Liquid Rubber