If you follow the steps about halfway up the well and jump off, you can manage to get into a small crevice. I initially thought it was a place where a chest could be. If you walk to the end of the shallow crevice you can jump over a wall that is barely low enough for you to get over. However you can and when you do, you are stuck inside the well and I personally could not get out without fast travelling. Xbox One after the 1.1.1.1 update.