Forward Programme14 Feb 2019 03:17
If Angus are still working on a plan, then they haven't ordered the equipment which may delay matters by up to 6 months. Folk may not like reading this, but it's a harsh reality that Angus will sadly be very quiet for some months if not longer.
Does it mean selling up, well no. As long as you don't need the money then the well has been drilled and just needs the correct completion equipment / isolation packer(s), as well as well testing equipment, rig and OGA / EA sign off on the final equipment which will be run in hole (well schematic) which needs to include ODs / IDs of the production tubing, ODs / IDs of the completion assemblies and their setting depths.
Something similar to this:
https://www.peloton.com/products/wellview/data-analysis/#group-23
I would say due to the profile / angle of the well that the water zone is at the bottom of the perforations (deepest part of the well), as that tends to be the case as Oil and Gas is lighter than water. In simplistic terms all you need to do is run a bridge plug and squeeze some cement.
End result is you have a production well which just produces hydrocarbons with the water zone isolated. Crazy as it sounds but we will await longer for the components that they should have already had as back up at the site, along with an isolation plug as a contingency plan for encountering water (which they subsequently observed) than the time it will take to isolate the well and flowing hydrocarbons (I would say circa 2 weeks worth of operations).
Best to have this timescale in your head, so it doesn't come as a shock. And lastly, yes once the water zone has been isolated which is a standard operation and an easy fix then the SP will have a healthy rerate from its current standing.