Potential 500% to 1000% upside from current level19 Jan 2024 10:49
With Roland in India signing off the JV anyday now.. they plan to drill in first half of 2024. Once the JV has been signed and upto the drill, we have a potential upside of 500% to 1000%. This is my opinion and not financial advice. Do your own research.
Cambay field development details
Synergia Energy is currently preparing for the full field development. The results from the fracking operation on the C-77H well established that future wells within 15-20 zones of the Eocene reservoir can help achieve an initial plateau production of four million metric standard cubic feet a day.
The field development plan approved in 2018 includes a staged plan comprising an initial ten wells drilled from the C-77H well pad, which will support drilling rig logistics, production tie-in, and ease of workover.
The ten wells will recover 34bcf of the larger resources by 2032 at a peak production rate of 25 million metric standard cubic feet a day of gas and 995 barrels of oil per day of condensate.
Two new horizontal wells are planned to be drilled in the first half of 2024 using the new fracking methodology proven on the C-77H well. The wells will be drilled from the same drilling pad and connected to the same processing and grid connection pipeline. Future wells will be drilled based on the results from the two wells.
The existing gas processing facilities and compression capacity will be expanded to 35 million metric standard cubic feet a day. A new export pipeline to connect to the high-pressure gas grid will also be developed.