RE: MATD17 Jan 2025 01:22
Talk of 5000 bopd, and up to 32 wells, sounds like 200 bopd is okay
2024, mentions 5 year plan, drilling 5 wells/year
2021 Report
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The next stage would be full field development which would involve the drilling of up to 32 production wells, water injection wells and the construction of its own processing capacity and water treatment facilities.
Report 2022
Base development
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At present, management is looking at a base development of the Heron field that would seek to exploit 33 mmbbl – which assumes a recovery factor of a mere 17%. With a combination of fracked wells and water injection, it is hopes that production could reach a peak of approximately 5,000 bbl/day. The capital cost of this development would be approximately US$250m, which would be met by cash resources and cash flow generated by the field.
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Target development
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Management believes that through a process of more optimal drilling (such as radial drilling and fishbone completions) it might be able to increase the recovery rate to 30%. This would see recoverable resources increased to 58 mmbbl and allow peak production to increase to approximately 9,000 bbl/day. As might be expected, this would augment the economics of the field development. Unit operating costs and capital expenditure costs would be reduced by 17% and 31%, respectively. We feel that as management receives more production data it will be in a better position to ascertain the potential of achieving the target development.
Sand, is that fracking sand still returning, typical contamination or the formation degrading if not controlled ?
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