RE: Boom3 Jan 2022 10:38
Uggy100, Harryshang
From the recent posts it seems investors are unimpressed by the experience and capability of the RBD and Raithlin team to explain themselves over the WN disaster. The recent decision to call in expertise in carbonate reservoir specialists is to be welcomed, although the suggestion that there may be a ‘reservoir stimulation treatment to achieve optimum flow rates’ illustrates how little our leaders understand. The reality is that the damage to the reservoir has already been done at the existing wells and the failure to apply proven technology which has been in use in Netherlands, Germany and Poland for more than 30 years has cost us dearly.
The Heavenly Twins need to start with a clean sheet, import expertise from proven gas fields and appoint credible technical/operational management to back up their next fund raise and explain the use of funds at WN.
Typical Zechstein gas fields in the NE Netherlands consist of numerous poorly connected fault blocks and the reservoir matrix is a very tight carbonate - equivalent to the Kirkham Abbey Formation. Production history shows varying individual well rates and where good productivity occurs, it is due to the presence of natural fracture networks. These Zechstein reservoirs have been produced for many years mainly as secondary targets by perforating existing (vertical) wells when production from the underlying Carboniferous sandstone reservoirs had ceased. So nothing new - but how do NAM do it?
Other development options are generally uneconomic - unless the appropriate technology increases the chance of successfully accessing the remaining volumes.
NAM, and others, has reported on technologies, which help to predict, intersect and complete on fracture networks, are:
1) Deterministic geo-mechanical (i.e. scientific - as opposed to guesswork) fracture prediction models ultimately calibrated with reservoir performance to help to optimise well placement and forecast production.
2) Use of Coiled Tubing Under Balanced Drilling (CTUBD) technology to drill horizontal well trajectories eliminating massive mud losses (which historically prevented drilling past the first fracture encountered), maximizing the chance to intersect a fracture network, and minimising formation damage. CTUBD involves continuous drilling without stopping to connect new pipe strings, and allowing the well to flow gas to surface, via a special sample catcher & blow out preventer, to a flare.
3) ‘Barefoot’ completions to ensure connectivity between the well bore and intersected fractures. A barefoot completion has no casing or liner set across the reservoir formation, allowing the produced fluids to flow directly into the well bore.
Of course, there is a cost to all this, but I doubt anything will happen soon - or until a competent operator is appointed.
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