RE: With a name like...17 Sep 2023 22:27
Fact Check This;
The Theta West-1 well was drilled some 10.5 miles from Talitha-A, encountering the formation over 1,000 feet updip and the pay section was approximately 50% thicker at that location, both as predicted. Testing confirmed producible, high-quality oil from the Lower Basin Floor Fan reservoir. Furthermore, the geological model had predicted reservoir quality improvement at Theta West-1 compared with Talitha-A, which was confirmed by the LWD logs. However, these tools do not provide the same resolution - metre vs centimetre scale - as available from Talitha-A FMI logs or analysis of the whole core gathered in the Pipeline State 1 well.
Pantheon's analysis of the regional trends in maximum depth of burial of the reservoir (Dmax) and its impact on porosity and permeability indicates the potential for significant improvement in reservoir quality some 5 miles northwest of Theta West-1. The Company expects, based on petrophysical analysis, a Kodiak appraisal well in that location to demonstrate even better reservoir qualities with 37 - 51% of the pay in the reservoir interval exhibiting porosities at or above 12% and permeabilities of greater than 0.1 milliDarcies - the typical cut-off for conventional reservoirs. This compares to 5% of conventional pay at Talitha-A and 24% at Theta West-1.