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ASCENT RESOURCES: Gas flows mean cash flows to develop up to 15 wells


Angus Energy Share Chat (ANGS)



Share Price: 15.625Bid: 15.25Ask: 16.00Change: 0.00 (0.00%)No Movement on Angus Energy
Spread: 0.75Spread as %: 4.92%Open: 22.25High: 22.25Low: 12.875Yesterday’s Close: 15.625


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Pigsy
Posts: 313
Off Topic
Opinion:No Opinion
Price:15.625
RE: Put this into context pessimist..
Today 10:15
yes, itsallaboutme, exactly Watson.....''It is my understanding that a hole or leak in the tubing can have a massive effect on flow rate as it just destroys the ability of the pump to do anything meaning you rely purely on pressure from below''

That is WHY Folks, they MENTIONED the FLOW rates to explain this is what has happened....
However most mis-interperted this as bad news, and doomed.....they are just explaining the adverse effects on flow rates ....with this problem. I suspect totally that flow rates will improve, once repair is done.
 
scallywag3
Posts: 340
Off Topic
Opinion:No Opinion
Price:15.625
RE: Worthless!
Today 10:11
barnetpeter, You got one bit right. "The ramping bunch that refused to allow real discussion on here by insults and so on .... " I disagee with the rest. at least hope your wrong.
Upside
Posts: 3,198
Off Topic
Opinion:No Opinion
Price:15.625
RE: Analogous wells
Today 10:10
Scally......the point is the 4 existing wells at Singleton were producing 400 bopd in total the addition of the 2 horizontal wells raised it to 640 bopd so they got around 120 bopd from a 2000ft horizontal well. By any measure Angus have been over optimistic.
ALLAN1942
Posts: 3,911
Off Topic
Opinion:No Opinion
Price:15.625
View Thread (2)
RE: Worthless!
Today 10:10
Peter from Barnet -Are you one of Dan's merry followers ?
itsallaboutme
Posts: 1,060
Off Topic
Opinion:No Opinion
Price:15.625
RE: Put this into context pessimist..
Today 10:07
Agreed, the issue may lie with a hole in the tube, or a loose joint or a too-tight joint (damaged threads).

"Most problems regarding the tubing string involve leaking joints, which can lead to a loss of production and can be difficult to locate. Leaks are usually caused by holes corroded into the tubing, or split tubing or collars. Leaks may lead to no fluid being produced at all, though the bleeder valve shows acceptable pressure."

It is my understanding that a hole or leak in the tubing can have a massive effect on flow rate as it just destroys the ability of the pump to do anything meaning you rely purely on pressure from below.

764 psi static bottom hole pressure is okay so I do think 400 bopd or more is still possible given the 3,300 feet of the horizontal payzone, if the flowing bottom hole pressure is there. We just need to see what they can raise the flow to after pulling and hopefully fixing the string.

If Lidsey-X1 at an 18th the payzone, vertical not horizontal got over 300 bopd at initial flow with a restricted choke then X2 should have got much more than 300 at initial flow. Something is seriously wrong with the well (in terms of results) and it needs fixing (which may or may not be simple).

Fantastic posts by Alan as usual.

Super links by Renegade and Upside:

https://medium.com/@marleerosegreasebook/understanding-the-tubing-string-for-oil-gas-production-9cff94c0b7bf

http://www.rigzone.com/news/oil_gas/a/28011/providence_resources_brings_x9_well_in_singleton_field_on_stream/
Pigsy
Posts: 313
Off Topic
Opinion:No Opinion
Price:15.625
RE: Worthless!
Today 10:06
barnetpeter, that's a bit harsh and over melodramatic I would say...
barnetpeter
Posts: 736
Off Topic
Opinion:No Opinion
Price:15.625
Worthless!
Today 10:01
No cash, no oil, no hope. Brokerman was right again. Those who fell for all the hype here and were buying at up to 37p.....pray for a small rally and think about it carefully. The ramping bunch that refused to allow real discussion on here by insults and so on ....

"The share price has tanked by 41%, at time of writing its 15.25p. The market capital is circa £37M. There is no recovery play here. The shares are worth between 3p/4p. That is it. Which means that they£ll more than likely be below 10p soon enough. But don£t worry on the placing price as whatever they raise cash at it will carry a big discount, if you have the £Energy£ you can always throw more money in and keep kicking yourself £Up£ the £An(g)us£. (A sophisticated joke for unsophisticated poltroons).

You can expect lots of shysterism to hit the online airwaves as the defeated, scattered army of the £Dumb as Fook£ led by Captain Ramptastic, regroup and come back with yet more horse shit on Kimmeridge etc.
gpmh1
Posts: 12
Question
Opinion:No Opinion
Price:15.625
WHATS THE PANIC??
Today 09:59
DL "We see considerable upside from this well going forward, as the Operator continues to "optimise" oil production from the Great Oolite reservoir. This is an important milestone for Doriemus and we look forward to "gradulally" increasing the oil flows from Lidsey over the coming weeks"

PV "In addition, the Company is currently examining "evidence" that suggests a partial flow reduction is the result of a hole in the production tubing, therefore not allowing the well to be "fully" drawn down"
Pigsy
Posts: 313
Research
Opinion:No Opinion
Price:15.625
Put this into context pessimists
Today 09:54
Alan 2017 said, ''With regards the suspected hole in tubing...it happens to all oil companies from the very small ones like Angus up to the big boys like Shell and BP. It feels like the end of the world, but you replace the faulty part and carry on with the original plan. Yes there is a time delay and monetary cost due to delays. So let's wait until we get verification of what the problem is.

The Angus Drilling Team have to look at the reasons why...as I say hopefully it's a quick fix. If the problem is pin pointed as a simple hole in the tubing. Then did they use new or previously used tubing (aka old). If it was previously used then can you really justify the cost savings for what has happened this past week.''

I note the pessimistic clouds currently hanging over this BB. Some are from concerned PIs, but I also see deramping going on...especially from posters who have not been posting on here regularly / at all.

Yes this MUST happen most of the time in the history of oil companies but because we have not been so closely involved with one before we have not been aware of all the finicky details that go wrong. With life, comes challenges/problems large and small. They obvious from the RNS that this is part of the course as written in their tone of voice in the text.
scallywag3
Posts: 340
Off Topic
Opinion:No Opinion
Price:15.625
Small hole Huge effect
Today 09:49
I live in an area where there is old asbestos water pipe. when my water goes off due to a small hole in the pipe somewhere, my neighbour living 10 meters lower and 50mtrs away down hill has no idea there is a problem.
My house, No water. His house Full pressure. Both of us on the same pipe and the hole can be 1/2 mile away either before or after the houses.
So wait and see if the fix works, if Lidsey never existed and we were waiting on Brocham, what do you think the SP would be?




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