It should be grounded in accordance with the NEC and any other prevailing local codes. If the cold water supply coming into your house runs through the earth to get there through copper pipe, then you can ground to that within 5' of the place where it enters your basement. It has to be a solid connection, i.e, nothing in between the entrance point and the ground point like a meter or plastic connection. If you meet these criteria then the ground should be adequate. The alternative is to bond it to your electrical entrance panel.
I too have a deepwell system, but the pipe from the pump into my pressure tank is all flexible PVC so it would not be adequate.
Welcome, BTW...!