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Many thanks Gigs and duster for raising the subject, and the technical information is always welcome, especially to lay investors such as myself. Interesting to learn that the risk factors are far lower with ready-drilled wells as opposed to the virgin variety - but a reality check just the same. With Sells matching Buys on the market, we are going through a fairly static run on the SP. Further interest from iis is required to help kick this on.
Sorry should read low risk
Hi GGG
Thank you very much for your detailed reply very kind of you.
Yes i was thinking about Harvey but forgot these are not appraisal wells but as you say development wells which are owed risk and have proven flow.
Thanks again
ATB
Hi Dusterinmong,
There is risk in every well drilled.
For the actual drilling and completion aspect there are risks at every stage of the well and proven methods to address those eventualities as well back up equipment for every stage.
I guess your questions is relating more to the reservoir and reserves based on the poor results of Harvey, although these are being reappraised and may yet play a part in later development.
The upcoming Elgood Development Well was drilled and appraised by Enterprise but not taken to production due to its size of (14 Bcfe), however with IOG tying it back to Blythe NUI vie a subsea tie back well this makes it (relatively) low lost and we have the route back to Bacton of course. The pipelines have already been laid out to Elgood from the Blythe NUI location and this being a development well and not appraisal should have reduced any risk to the minimum.
With the Elgood well due to commence by very early Q2, so we could see drilling start in April.
Next is the Blythe and the NUI’s are due to finish construction soon, so the first NUI will be installed and the well drilled and completed surface trees and tied in mid to late Q2.
The Blythe Development Well was drilled by Burmah and in good reservoir, then later appraisal wells by Arco which were well tested giving 15MMscfd flow.
The final wells in phase 1 are Southwark and a discovery by Conoco Philips and will have the second NUI and 3 wells.
These wells being previously proven and ready for development are very different from appraisal wells which carry far more uncertainty and risk, although nothing is risk free.
I am certainly looking forward to the above throughout 2021 and Q3 first gas.
GG
Morning all
Do any of you see any risk in the upcoming drills over the next few months.
Just thought to ask as they have underdilivered somewhat in the post year or so.
ANY info appreciated