RE: Energy Voice: Market overreacted to ‘bump in the road’ for Hurricane25 May 2020 15:58
"And given how low oil prices are currently, producing fewer barrels from Lancaster might have some benefits, as the company would have more to sell at a later date, hopefully at higher prices, Mr Kelty argued."
What a ridiculous statement … as if saving a couple of million barrels now (out of about 500 million) is going to make much difference in the long run.
I imagine that there are other members of this BB who, like me, are on the NHS extremely-vulnerable 'endangered species' list and have therefore been told to lockdown for 3 months. But this could cause a problem for those with cars that use petrol. That's because petrol can start to go bad in about 3 months if, like most lower grades of unleaded, it contains 5% ethanol ....super unleaded doesn't. In the US, where most gasolines contain 10% ethanol, it can start to go off in 6 weeks. The ethanol starts to go 'sticky' and can cause problems in fuel system. Just a thought.
adoubleuk I agree what you say about filtering but if you have more than one person on filter, it would be a big improvement if the green line that says :- "This message has been filtered, please adjust your filters to view" instead stated :- "Mr. X has been filtered, please adjust your filters to view"
The RNS states :- "These production rates have been achieved without the use of electrical submersible pumps (ESPs) and with the wells choked back to less than 50%, confirming the extraordinary productivity of these wells and the reservoir."
If the wells were only chocked back to 75% flow (sometime in the future) does that mean they could produce 30k bopd and therefore not need to drill and tie back another well ?
I don't understand why (maybe someone with more knowledge can explain) but according to Wood Mackenzie shutting down has its own costs, and could make restarting more difficult and expensive. For some oil fields, shutting down could cause permanent damage to reservoirs. That's why some companies prefer to carry on taking a loss than to shutdown.