Future looks bright for ppp24 Sep 2024 12:36
Having a look online... 500-5000 bopd per well is regarded successful in the oil Industry.
Taken from online see below:
Taken from oil and gas industry message board -
It depends on where you are drilling. Some places, like a deep water offshore well, it could take a year. Other places, it could take a day. In one shallow gas field we had four drilling rigs running simultaneously side by side one mile apart, and they would drill four wells a day. They didnβt even prepare the drill site, they just set the rig down on the grass, punched down a well, and completed it. The next day they picked up the rig, moved it over a mile, and did the same thing again. Then a trencher came in, laid plastic pipe, and hooked up the wells.
Realistic time frames for new wells is 6-8weeks for a new well to be drilled, cleaned, water extracted, oil extracted etc I'd assume GV have data of where they want to drill already so it would be a matter of getting the equipment to site and the manpower then cracking on with it. This is what I believe this quiet period is, they have drilled new wells imo but time will tell. Definitely exciting times going into the new year as the roadmap will be clear then.
500-5000 bopd is successful in oil bopd / in the oil producer world. So I'm happy with the amount of acres we have on both fronts - imagine the drill and extraction potential we have ... It's No wonder gv wanted PPP imo