Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Weather forecast saying wind abating next week (Wednesday and if is a forecast!). I am thinking that unless SoA dictates end of season then ice road might be good for awhile longer than last year. Reason is weight difference between big rig and coil tube rig. So we might have a few more days than we might think compared to last year.
Cheap might be something to do with having 15 billion shares and counting in circulation. Why put more money in the ANS would be the question you should be asking, if yes then PANR is better than a punt. If no then maybe look to diversify into other regions. PRD might be a good place to start, not a recommendation DYOR!
The word frac gets bandied about a bit. There is a world of difference in trying to stimulate a vertical 10 foot section and "fracking" as has entered common lexicon over the last 10-15 or so years. Fracking is like trying to wring a wet cloth out, stimulating is like trying to poke wet leaves out of the tap of a full water butt .
Lot of talk about "testing kit" and "bits of equipment" . Basically there is logging and flow testing. A full size drilling rig can be used to facilitate both of these operations. A full size drilling rig is x USD a day. A work over rig, in this case a coil tube rig is 1/2 x USD a day (at any rate cheaper). Now whether they had 2 coil tube work overs lined up I don't know, I didn't get that impression, could have been. Anyway the big rig would have been contracted for a set number of days with a bit of flex no doubt, cement issue caused an over run or potential over run. I think as mentioned previously they ran a slide rule over it and made a cost based call to demob and use the work over rig. The result is as detailed in the last RNS. I can tell you from experience that plan changes on the fly in the oil patch is not uncommon.
I am guessing 1 to 3 weeks. It depends if trouble free, how tight and how much (or little). We just are not in the company (Jays) office so it really is.... a guess.
They could have tested using the big rig (in my opinion). I don’t have the figures but I guess someone passed the slide rule over the day rates.
Not sure I understand what u mean. Just a figure of speech, I was never involved in proper shale fracking so have no idea what chemicals etc are used
On the other site they seem to be stressing about do we have one or two fracking units. Fracking of the sort that has been in the popular conscience this last few years is different to the fracking done on a vertical wildcat.
They will probably run Chicksans from the cement pump to the drill floor and pressure fracture the rock in the immediate area of the perfs. This breaks the cake on the bore and increases exposed rock surface in the immediate area of the perfs. It does not require a purpose fracking unit, which pumps sand chemicals and God knows what into the likes of shale.
Cheers Garry, if 79 was the year you were born, I was stood at the end of the monkey board throwing pipe at the elevators before you were a twinkle in the eye ??. Where has the time gone
When running casing displaced drilling fluid has to enter inside casing. When they pump cement that hole in the shoe has to become a one way valve so the cement doesn’t u tube back into the casing. If tool didn’t do that then that is another possibility.
The RNS say it (stage tool) was improperly configured, wouldn’t be surprised if it was dropped in upside down!! I am guessing unable to pump cement through the shoe as a consequence.
It’s straightforward to set a packer, run a perf gun and squeeze through the perforations? . Drill bit will make short work of whatever cement is in the 9 5/8ths casing
That’s why they will be doing a squeeze job, all pretty straightforward just time consuming and of course time is money.
Actually I think from reading the RNS it was not a successful cement job. However it’s not a biggie. The cement hand will have been run off and replaced no doubt. It’s a straightforward fix, when I get a chance I will try and explain if no one else has done so.
Scot, I really don’t have a clue what’s happening on site. It was just an observation regarding the use of diesel during testing. Burn offs (diesel) would last less than an hour maybe a couple hours tops.
Looking at the photos again you can see the snow light up, plus the bit of orange, if I was a betting man I would say flare, of what is the 64k question.
The old boys in the oil patch generally think everyone else are idiots, it’s just a thing
Could well be a flare, looks like some orange colour in there. Point to note is sometimes diesel is used down hole for testing and burnt off when returned to surface. Rules and regs might be different today and in that location so just an observation.
I thought I would recount my memories of what a cement job is (note not a concrete job!!). Cement, the stuff you buy at B&Q in a bag, pitches up in bulk on a truck or supply boat. It is pumped with compressed air into storage tanks (it acts like a liquid). Somewhere on the rig is the “Halliburton” cement pump, painted red if it belongs to Halliburton other colours (blue) if someone else. Come cement job day, the Cement hand, company man, toolpusher, Derrick man and assorted help congregate around the pump, cement is transferred by pipe and compressed air to the cement pump, mixed with water and a little setting agent (amount job dependant) in a mixing tank on the cement pump (the whole pump is about the size of a small hatchback). When the mix is right and before it sets it is sent on its way down the hole, through the casing shoe and back up the annular cavity between outside of casing and open hole. The cement hand has high blood pressure at this point as thing can and do go spectacularly wrong and he has a very critical audience watching. Anyway he has to keep mixing and pumping until the job is done and that hopefully is it. There is a bit before and after but the actual cement job is as above. Poly cups are used to collect samples to check it actually sets hard. This was back in the 70’s 80’s so things might be different now.
Casing needs to be set to TD, it can sometimes be problematic getting it through, will be a lot happier when done.
Prudoe Bay flowed at just over 1000 a day, I suspect that is what the market would be happy at to believe this is a giant.
Fracking exposes more rock surface to the well bore.
Normal procedure after perforating is to shut the well in for a set time (24 hours) and observe well pressure.
Packers are set below and above the test zones, cement is squeezed in when done testing to secure the well, the same again for next zone above. They might not kill the well completely if plans are it will be a producer in the future.
Jay looked like the cat that got the cream. I like the idea that there is going to be a lot of news in a short space of time. It will take longer for the Nordic Calister to rig up and rig down than run the plug. Then the work over rig will basically drive over the well and start uncoiling. I think he said Feb for results. Work ongoing even when it thaws. An exciting few months ahead, not quite out of the woods yet but it looks good for sure.
Well done on taking a profit. For what it is worth and in my opinion, try and get away from the idea of buying in at a lower price. You are either admitting you made a mistake selling or are trying to trade the dips (neither I think). If still interested in PANR, buy when you think it is right, the price could be 100p. Nothing has changed since you pushed the sell button. Avoid seller remorse and have a beer.