Ops risks - firm hands23 Apr 2021 12:41
having done a few of this and get my hands properly dirty on the ground - from prospecting to production (hydrocarbon that is), i wanted to share what to expect during ops period so we don't panic if it does occur especially for HE1's current status - pre discovery, sp is sentiment driven etc... we should hold tight with diamond hands if the objective is to exit post drilling and beyond. These are generally what happens during operations (very high summary):
weather - always a factor, waiting on weather (WoW) is always expected whether its land drill or offshore, and depends where we are and time of the months of operations, this could be minimal, or substantial. so if there is news of delay due to weather, this is normal and not an issue, standard operations. we deal with this with every and most operations whether its North Sea, Tanzania (see Wentworth), Russia, US, etc etc. This will be factored-in in the contingency planning (time and cost and contingency operations / activities).
ops - drill issue. There will always be non productive time (NPT). its very rare, like finding a unicorn, where NPT is zero. So expect this. Tools can get stuck, fatigue issue or formation integrity issue, they might loss circulation or the mud weight requires adjustment due to loss into the fault, formation or casing may collapse, they might miss drill target slightly (the drill is guided by 2D seismic) and require a sidetrack (again, it happens) but that is ok. Everything can be resolved. They have ample cash to address these as part of their contingencies with good commercial models to absorb some pain if needed.
HSE - issues can happen and may need addressing during ops, waste management system (drills) etc. minor spills, leaks. it happens sometimes, so expect the unexpected. emergency response
Outside and other influence - local issues, this happens everywhere, in the UK included. Wrong size tools or fittings, pickets.. what not. i don't know if anything will happen but factor those in your expectations.
I am aware there are shareholders on here (but haven't posted) who live and eat the drill game for over 40 years so hopefully they will show their steady hands once drilling commences and guide us.
my shares will stay with me until exit point and if any dips coming our way, rest assured it will be picked up with no qualms. Diamond hands to appraisal results and beyond! Please DYOR.
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