Member Info for Bubblepoint

It is a stupid exercise BV, I have come across some ultra smart people during my 30 years in the industry, and I mean ultra, but often found they can be as much use as a chocolate fireguard on anything other than their one line of focus within the 1000's that exist in the industry and I have proven many times that a great general industry fielding can often come up with the right answers.

In fact these days, most oil companies regardless of size have learnt to bring in the service providers that have greater global experience to offer them solutions rather than them cook up their own, and that is where my main footing was held.

10 years at the front line as a Logging engineer and then management with Schlumberger international.

5 years with Geoservices before Schlumberger bought them as front end field management, operations design & planning.

Bp direct for 4 years as well services supervisor, managing & dealing with all on site field services, rig and rigless operations.

11 years with Expro international, as operations manager and a final spell in upper management.

It has given me a massive exposure to all services and operations during my time and believe me, I paid great attention to fine detail and understanding to every aspect of what I was involved with both directly & indirectly, with great success.

BV,

I am not going to get into some sort of back n forth about your comments, really I don't care, but if you are stupid enough to hang on to every word spoken by ANY Aim outfit then all I can say is your going to need a LOT of luck.

It is almost NEVER what these outfits have to say, it is almost ALWAYS what isn't said, the between the lines, the grey zones that need to be worked out. You should look at Sandersons industry past, looks impressive, but gezzzz the man is a walking liability, and continues to be so. So yeah you carry on hanging on to the every word spoken by those at the front of these outfits, I will stiick with working out the missing pieces that make for the real story.

In fact if your ONLY interested in what RH has to say, then you don't even need a forum, just read the rns's lol....

Canaryinthemine,

There is no ramp, deramp ramp, whatever, ALL that has ever changed has ONLY been dependant on the company and their own actions.

You can call it whatever you wish, it makes no difference to me at all. you know where the filter button is lol.

And yes they are the same poster thanks.

Personally highly confident that they will achieve success, as an "in fill" the fact the upper geology came in bang on prognosis, and the geology is well understood from everything done before, then it should be as nailed on as any drill can be, as long as they manage not to damage the wellbore etc.

It does look like this move upwards could be in anticipation of TD etc.

By the way BV, your comment "I would prefer to listen to Richard Herbert's experienced views, not that of some so called O&G worker who makes it up as he goes along thanks."

You think they always know better, well go on UKOG twitter page, click on the image they posted showing they had run their perforating guns to test, and I "immediately" posted on that twitter feed (refer to dates) that they had used the wrong guns and that they would not achieve the penetration needed and that they needed 7" guns, a WEEK later UKOG RNS'd that the guns had not worked and they needed 7" guns... SOOOOOOO Companies always know better ?? really

WG,

Gas prices are lower than I expected, but then again the global efforts to outsource gas and reroute to counter Russian supply has so far proven more successful and quicker than most would have expected, thus that also is reflected on price.

that said, I am more interested in how that pans out on average, and we are still significantly higher than pre rally prices, the media and folk here that want to make a noise always refer to the price fall from it's dizzy heights. but never also mention that it is STILL far higher than it's pre rally prices.

Add to that, the new found additional supplies and routes were rocked by Norway's relatively small gas plant leak yesterday, which simply demonstrated just how fragile the new structuring is, and as it stands it takes very little to generate the butterfly effect.

As for A4 water production, I have spoken on here about this numerous times, A4 is planned for a future workover, and in part it is mostly because of the well trajectory that dips way too deep before pulling up higher into the upper Westphalian reservoir. That said, if the well did not dip down to that depth, then we would not be recovering £2.5m of condensate a year either, so you cannot have it all ways, if you want the condy then you also have to accept you are going to bring some water with it.

WG,

I think you are plucking at straws with this Significant water cut" hunt.

They will have to report anything produced at SLBY, and over the last month or so that will include any kill fluids, brines, etc that have been brought back up from B7T well, and also the shut in of A4 and re opening on a few occasions while they were trying to get B7T cleaned up enough for 3 well flow would also cause additional initial water slugs from A4 on re opening flow until it clears its throat.

They would not have had to report anything from B7T whilst it was flaring and on test to separate separator and tanks, but as soon as it goes to the facilities then they are obliged to report whatever is produced regardless of the reason.

BV,

Not sure why you deem it "makes it up as he goes along", there is plenty of industry logic as to why it is not a 3rd compressor. lol

Tantalum,

They have a decent level of redundancy remaining in the 2 current compressors, meaning if they wanted to increase flow then it is no where near enough to need a third compressor as yet, and unless they add more wells to contribute from other areas of the field that may not drain effectively into the current 3 well recoverable area, then there is no advantage until flowing pressures are below the main compressor threshold.

I agree with Howey & HITS on this.

A third compressor is extremely unlikely, it has no benefit to the "current" flow rates.

The compressors are only acting on final stage gas from the field processing/separator plant, and it is the last action on the gas prior to being sent down the grid pipeline.

The 2 current compressors almost certainly have the capacity to take up to around 14mmscf/d total without issue, and we are only just around 10mmscf/day.

Also the drive engines on these compressors are utilizing produced gas as fuel to run those engines, and they are fairly hungry beasts, so you don't run one unless you need to, and you also do not want to under supply the compressors either. mainly because there is a window of optimum efficiency for both the engine & compressor to work at and that will almost certainly be around 70% of flow, which is ironically exactly where they are with both compressors now.

You "might" consider a 3rd compressor if you are under hedge for almost everything you can produce, simply because you cannot afford a total engine fail or other fail, so you have a back up, but that isn't the case here.

They have stated the "eventual" need for a 3rd compressor, but this is only once the surface flow pressures are below threshold, they will then run all gas into the 3rd "booster" compressor to give the gas a first stage boost before entering the main grid feed compressors.

I also think it is a typo, meaning well not compressor.

Perfect example of just how fragile the global gas supply is, yes it has managed to circumnavigate Russia gas, but only just, and it only takes one small plant to make it shudder.

Well done SV, as you say, rude not too, I also think there is always going to be an element of "looking for reasons" that are simply likely NOT the reasons, and it is likely this will rally when no one is expecting it and for no specific reason, other than the greater "forces" within the market doing their thing, likely the same reason it is at todays level too.

And to take advantage of that you gotta snaffle em at these levels... lovely jubbly !!!

Very ermmm subtle ramp with that price expectation Howey lol.. must try harder !!

Don't sell yersef short ;-)))))))))

Well I am totally agreed, the debt is exceptionally easily managed with the daily/monthly revenues, and I personally believe they will pay down anything immediately pending, but the rest is almost certainly going to be managed under normal payment process for it's duration, which is totally normal.

Their revenues & reserves based asset has humungous debt to equity play, and we would 100% not have SLBY owned 100^% and producing 2.5m a month without it, so as far as I am concerned it is just par the course.

Add to that ANY future drilling operations will be a FRACTION of the B7T drill, as they now fully understand what they need to do to get it in and done right first time now.

I expect a nice slow cruise upwards over the coming days/weeks.

AND the condensate which is worth around £2.5m a year discounted, every bit makes a difference ;-)

AND the condensate which is worth around £2.5m a year discounted, every bit makes a difference ;-)

Correct mikee-p THE Average !!

Whatever

JohnHenry,

I have had this long boring discussion with WG about wholesale prices, and I am not interested in a day or a week, only the average over the months/year.

Easy to selectively pick on days to make a point, but this is pumping 365 days a year and therefore the average is the factor.

Now move on, I think you "could" be my FIRST EVER to go on filter...

I am glad they did mention their revenues, puts the returns Vs what is a relatively small debt into perspective, and really presents SLBY as the bargain bucket it really is, with a whole potential frontier of gas in the Namurian to go poke too.

You put a company up for sale that is generating £2,500,000 per month with say £24m debt and reserves of £300-500m to produce, has to be realistically worth £100m at discounted rates.

Correct HITS, there are some areas we are more or less aligned on, as for demeanour, it shouldn't be an issue, as I have taken the decision to utilize the filter where required, although it is something I have always been against, but times dictate it is likely better to use it lol...