Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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No, I agree that there is selling going on in the background and has been for a few weeks. You would expect the sp to edge up with that amount of buying. I just hope the boy wonders haven't stitched us up, again.
Fair enough Dan, nethertheless the sp action has proved to be shocking anyway, for every buy there is a seller after all.
Uggy, those sells were actually buys. I know this as I spent most of the day putting in dummy trades. Anything over .56 was a buy.
I note, with extreme displeasure lots of selling today. No doubt as a result of the C holders continuing to cash in on their early xmas present.
Albinio74....Just to clarify matters slightly. Much of the North Yorkshire exploration drilling and gas producing wells this refers to has been in the York-Malton-Pickering and surrounding areas. Note North Yorkshire.
Although sub surface formations obviously do not follow boundaries remember West Newton is in East Yorkshire much closer to the North Sea coast and the Humber estuary.
Exploration - I believe this paste and copy info has been shared before (one of several places this info exists - https://www.researchgate.net/publication/325021757_The_history_of_hydrocarbon_exploration_and_development_in_North_Yorkshire )
As yet I don't believe anyone has shown this relates specifically to West Newton on the data presented so far.
I hope you are not invested here for your sake, don't think your nerves could stand it.
Demonstrated hydrocarbon column of at least 118 metres, with no water contact.......is what they said.....
Pickering is high on the moors in North Yorkshire. West Newton over 50 miles away on the coast in Humberside. Not sure you a make that extrapolation on chance of successful Exploration, Exploration????
RNS translator
You have to remember historical production data in North Yorkshire show that all the Zechstein reservoirs have experienced early water breakthrough, leading to impaired gas rates and low recoveries. Technical failures and non-commercial outcomes.
The water influx is due to a highly mobile, but finite aquifer, which under field production conditions preferentially flows through the high permeability fracture system in the Kirkham Abbey formation., bypassing the gas stored in the tighter matrix.
In the past, other operators tried to resolve the issue of water influx by using artificial lift to encourage the gas to flow. The idea was to keep the water cone created by drawdown of gas production below the gas perforations rising above the gas perforation. Reservoir engineering 101. A trial at the Pickering gas field met with partial success. If Rathlin can solve the issue of early water influx in the Kirkham Abbey Formation there is hope West Newton can be commercialised.
All this technical stuff seems beyond the capability of the heavenly twins to explain/publish, but they could at least try.
Hi RNST. Are you able to tell from the few close up pics or from the drone shots that have been posted here and I believe on Twitter, or even maybe take a guess, at which model of LRP they are using? This would be really helpful in estimating what volumes of fluid (? oil or condensate) is being pumped. I understand that some smaller LRPs are rated at only about 100 bpd, so I'm still on the cautious side. Thanks, GP
4m someone loading up on the cheap.
2bfair
That’s only really under natural flow, where there is sufficient natural pressure to get the fluids to surface.
It can be enhanced by ESPs.
If your pumping a reservoir that hasn’t sufficient pressure to flow itself then it’s generally limited by the pump capacity rather than exposed reservoir length.
If it’s true that WNA liquids didn’t flow to surface.
FWIW Stifel, their broker, has said in recent research that a horizontal well should expect flow rates >10x what they get from the currently ongoing EWT
That's not bad considering this is more about finding out what is down there and where is best for a horizontal well. Also it's not uncommon for the pump to be removed once the flow gets initiated.
Flow rate expectations based on LRP type
http://regalaustralia.com.au/mktg/marketing/pdfs/LRP_flyer.pdf. see graph bottom of pg 2.
Assuming they use at least the L826g or its equivalent, and at a depth of 5500ft flow rates are expected to be between 200-700 bpd.
The LRP (Linear Rod Pump) has been installed. Pics on twatter
Well, it's their own fault. If they are mug enough to believe the dross he, and other tree huggers post on here, it's their own lookout. You can only do so much to highlight characters like him to shareholders.
I always thought after WNA-2 that a pump may be used. If it has been installed we must be close to flow now. Those sellers who believed persimmon and sold will kick themselves.
Taken from the Community Liaison Group Notes, October 2019. Could be relevant if the report of a pump being installed at WNB-1Z are correct:
'TS explained that wellbore fluids were recovered at surface with associated gas but there was not enough energy in the reservoir to recover any reservoir fluids to surface, but that fluids were tagged someway up the wellbore. TS explained that in order to recover the fluids effectively from the well bore, the team will need to install a suitable pump. He said that because the Environmental Agency permit did not provide for the installation of a pump, a decision was taken to temporarily suspend the operations so that the team could arrange go back to the Environment Agency with a revised solution.
He explained that the work was suspended, and the equipment was d- mobilised from site on 30 August 2019.