Natural Gas Daily - Los Molles: Argentina’s ‘other’ shale formation Interesting read on new frontier style oil/gas exploration (aka Poland) with references to Permian Basin and Bakken formations in North America. http://interfaxenergy.com/gasdaily/article/12851/los-molles-argentinas-other-shale-formation
RE: Shale Gas well design in US
Lanny9 - Thanks for your comments At this stage in the game I take particularly consolation from your comment "you drill a hole your going to get results" so at very least we should get some gas flows/revenues albeit not at optimal rates - however the main point of the article which stood out in my mind and was one which you in fact reiterated in your comments: "they knew how much oil and gas it contained but didn't know how to produce it, once the code was cracked it was game over and the risk became negligible." We all know full well Sle is an exploration company and exploration has many risks and rewards, I guess my posting was in the form of a general appeal to make shareholders more aware of the problems and to make an appeal to give the company more slack as they "stumble" towards bringing the Polish wells on line and rewards to all share holders.
RE: Shale Gas well design in US
Blackswan, the quote is a bit misleading. Yes it is true that the formations took that long to get the exact formula down but in the mean time all those wells that had been drilled had been put into production, so cash is coming in and at a greater rate than going out. In fact all companies are still changing what they do with the wells, it is like any business, you try to streamline operations, figure out the best way to make a dollar, more ROI etc. That is what they are doing trying to get the best ROI they possibly can out of each and every well. But the part I really take exception to is that there is more uncertainty and risk involved with unconventional. It is really misleading, the shale is there it is like a flat blanket covering thousands of square miles, you drill a hole you are going to get results, once you have a way to produce it the uncertainty and risk go out the window. Most unconventional in the US and Canada have been well known for decades, they knew how much oil and gas it contained but didn't know how to produce it, once the code was cracked it was game over and the risk became negligible. In the Bakken 99% of the wells drilled are producers, far, far more than what the average is for conventional onshore let alone offshore. Supply chain issues, well that is a different story! But that is more because of the remarkable growth in the oil and gas industry, not because of the unconventional/conventional issue. Nobody could have predicted that the US would be self sufficient in oil and gas and if anyone could have they would have been a very rich person indeed.
RE: Another blue day....
Good to have a long weekend, Searcher and all who sail in the good ship SLE, have a great weekend.
Another blue day....
Not by a massive % but at least its blue and according to the charts is all on track to see that 3.5 resistance soon ;) have a good weekend all
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