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Tony,
Your tanker count of 28 implies production of over 6000bbls.
HH-1 OGA production 4743, so either quite a few were waste tankers and/or HH-2z was flowing.
Funnily enough if I add the water produced by HH-1 (1486bbls) to the oil I get 6229bbls - or 29 tankers, 22 oil, 7 water. Interesting maybe HH-2z wasn't flowed in June.
ibug,
Have you been here long enough to have seen the ridicule I got for mentioning water in the Portland (and Kimmeridge)?
Just because the reporting figure 'might' have kill fluid etc in it (and I'm tending to think it doesn't) doesn't mean I don't expect this to be 'native' water.
I just can't believe that if UKOG saw that much water cut from the Portland in HH-1 in June it wasn't mentioned in the interim results RNS.
Penguins
Reporting period ended 31 March 2020. If you read the RNS they only refer to the reporting period where they mention bopd.
Almost all reservoirs produce water eventually and it was always a matter of some technical discussion as to why HH produced so LITTLE water during the very extended test. AFAIK they have never reported water from the Kimm - which is really weird - and the Portland volumes to date are OK - but it would be a lot better if the company gave us some forecast s of what they are expecting so we can see if they are under or over preforming.
The water injection well had two roles - water disposal and reservoir pressure maintenance - it seemed from discussion at the time that they expected the two to balance
There's plenty of post reporting figures etc in the interims including for instance the 113,143bbls production and othe 'current' things going on.
Ibug,
I get what you're saying, - because they only reported bopd during 'the period' (incidentally I've also moaned about them not giving a current figure) they can quite rightly say they weren't misleading anyone. Perhaps that's why they didn't give a current figure for HH-1 flows?
If that's true then it's a tenuous reason for not informing the market of significant news.
It's disgraceful that this might even be thought of as a possibility.
As happens too frequently we await clarification from UKOG, are they waiting to bury it in news of the Turkey deal being executed, Loxley planning or a placing getting the 'good' news out at the same time.
Penguins, maybe they will not do any further wells at HH, and just stick with HH1 for the next 2 years. I would not be surprised. The cost of drilling wells is high and UKOG are low on cash, with big calls in Turkey and Loxley to come in late 2020 and to the end of 2021. Think they would be happy to comingle Kim and Portland to get 300-400 bopd, but if its 250-300 bopd, then that would just have to do. Its cash in the bank, and profit when calculated at the asset level.
Not sure what to make of HH2z, will they provide some more details to the market? What interventions are required to bring that into any form of production. Can they use a more modern setup and dual purpose the well as both a water injector and oil producer? I really dont know. I would look to inject water in HH2z rather than pay BKP to truck it away. Every little helps.
Cynderlad,
when they bought what might have been 2 sets of 'testing' equipment from PW, which they are using for production (stock tanks, oil and gas separator, flow lines, choke manifolds, export pumps etc) that's precisely what I thought (and posted) - this is it for HH for the time being. There has been nothing about the proposed development for a long time.
As for dual completion maybe there are risks/problems with the Kimmeridge such that they aren't prepared to dual complete (not comingle) HH-1 - or they are not prepared to take the risk of losing the well whilst doing it. I suspect a bit of both.
HH-2z - if they had decided what they were going to do with it I'd expect it to be done when there's a workover rig there.
If Turkey is in any way successful maybe Loxley and IOW (and A24 and BB) will be quietly forgotten rather than spending cash on them - especially if even the Portland at HH is really proving troublesome.
PS - my last post should have included the possibility that there is no problem with HH-1 Portland at all - after all the watchers only see oil tankers........
As for perf / moving the downhole pump in June (Tony) - see today's RNS, though still no current bopd and forecast benefit of the work. Suppose it will enable a 'better than expected' RNS whatever the result. I'm surprised they are using a workover rig, they've done similar operations using a crane/s. Also note even using a workover rig no mention of dual completing (no doubt posters/tweeters will claim the rig and 'deeper' pump means they are, or they are doing it without saying).
I'm sure they'll reluctantly manage to squeeze out an initial rate RNS if it's good. Maybe the mythical 362bopd might come to pass as an initial sustainable rate........
The cynics would probably say a placing would soon follow.
Penguins - what's your estimate on time to complete this work?