Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Looks like the are going to create a revenue stream - if they drill three wells, we could be generating +$100 million per year assuming production of +1000 bpd per well. also, could be planning next horizonal well to be even longer and are looking ahead......exciting!
using standards from fracking - 3 weeks to prep site/move equipment with 3 weeks to carryout drilling....i'm guessing we've just started drilling or about to start this week and end of the month to start flow tests.
Time line for fracking shale
Well Site Selection and Preparation
Identifying new well sites is a complex and time-consuming process even in developed and producing oil and gas reservoirs.4 To maximize a company's production from a reservoir, petroleum engineers must minimize the extent to which each new well diminishes output from other company wells nearby, while maximizing the inventory of available drilling locations.
In the Barnett shale near Dallas, it takes one to three weeks to prepare the drilling site, including clearing, fencing, excavation of the fracking pond and the mobilization of necessary equipment. This is followed by drilling preparations, which also last one to three weeks.5
Well Drilling
The drilling of a modern shale well can take two to four weeks. Drilling efficiencies in recent years have generally resulted in longer laterals rather than shorter drilling times amid an industry-wide shift to horizontal wells.
Pioneer Natural Resources Company (PXD), a leading Permian Basin producer, was reportedly taking 14 to 25 days to drill wells 10,000 feet deep with a 20,000 foot horizontal lateral by 2018.6
I guess the nabor rig has been moved and pantheon are now moving to new set-up with pumping station followed by the 1st of 30 perforations.
Does anybody think the peforations have started?
Taken from RNS on the 18th of August.
Next Steps - Long Term Production Testing
Future operations at Alkaid #2 involve demobilizing the Nabors Rig 105 and moving in a smaller completion rig to undertake the extended completion operations of perforating and stimulating the horizontal section approximately every 165 ft and will necessitate +/- 30 separate perforation and stimulation stages
aj, am i suffering from the mandela effect? could have sworn there was a leak 3/4 months back when sp went down from 23 to 18p - maybe this didn't happen in your temporal time/space zone. the other thing i would add, with the volume of shares in circulation with increased number of holders, very difficult to keep a lid on anything positive.
aj, even if agreement is close, I would expect movement. based on history, chariot is not good at keeping a tight ship. at the moment, the best i'm hoping for from agm is an update on gas sales agreement (why the delay), project development cost (why the delay) and recruitment strategy to meet aspirations of becoming an operator (why the delay). I would also like to know what general are upto.....for me, anytime spent talking about 'green hydrogen' will be a waste of time and hope chariot spend little time overselling this in agm. i'd also like to know if they have plans for doing more drilling.
would have expected to see far greater movement/volume on gas sale agreement signed - it a license to make money!!!!....not like BoE, ECB and FED! volume very low at the moment which makes me skeptical anything has been signed. waiting and happy to be proved wrong.
scot - nothing derogatory in using 'make shift' as it will not be a permanent structure - i was emphasising that this operation will require significant resources and man power (as had been mentioned by other posters) and the activities are likely to be picked up by the market. i'm also sure that the investors from prudhoe bay will also have a keen eye on operations and will have further impact to volume and sp fluctuations. reading across articles and listening to jay/bob interviews, the release of prelimanry flow results will come out either the begining of october or end of october - dyor.
i wonder what kind of set-up they have. i guess they will need to have some kind of make-shift oil storage depot to fill trucks and to allow continous flow of well - not a small effort.....more so if they produce more than +1000 bpd and this goes on for a month - its big logistal operation and they will need to keep up continuous flow. with the amount of personnel involved I think we will get leaks and it will show up in trading volume and sp. gla.
imo, any gas that chariot produces would most likely go to export abroad as morroca has low energy use (they also wouldn't be able to afford it) . it's looking more and more like gas sales price agreement is what is holding everything up.
https://elements.visualcapitalist.com/energy-consumption-per-capita/
when reading about sound energy, my understanding is that it is only part of the domestic pipework infrastructure used for suppling gas for cooking and heating homes. i would be very surprised if the pipework is rated to transit gas in the volumes and pressures chariot would be producing - could be wrong. also, would the owners of maghred pipeline not charge a transit fee? would be good if chariot could clarify situation in agm - would certainly help remove any uncertainty that some of us have here.
interesting discussion - the gas produced from the field to land is/would be infrastructure owned by chariot (operator and others invested). however, once on land, the piping infrastucture taking gas to europe is morrocan - i'd imagine they will charge a premium for this. this could be the choke point of discussions with chariot and morrocan government. we saw what happend when russia didn't like the transit fees being charged by ukraine so they built nord stream 2. also note that algeria didn't like morrocan terms for sending gas to europe via there pipeline so they built their own.
could be the convoy making movement...
https://www.youtube.com/watch?v=Sd5ZLJWQmss