Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I don’t think people actually know what they’re buying into with ITM.
The concept of pumping substitute gases through the uk gas network has paved the way for initiative products that don’t depend on natural gas only.
Efficiency’s in how much resources are required against its output is the only way to measure if it’s environmentally friendly or not.
For example global warming has seen dramatic declines in gas consumption to heat homes but the units installed provide hot water meaning waste energy lost.
Saffron is going to be an interesting one. I don’t believe many wells have been drilled/ completed and tested as such depths if any at all, I’m curious on the reasoning to open the well up as much as they have, it’s almost double that of what was seen in Goudron. No doubt it’s a belts and braces tactic.
Sorry to but in.. from memory Goudron water flood was a trial to test for connectivity to evaluate the prospect of a long term water flood project on the field. I believe this was done prior to renewing the Goudron licence allowing a new contract to be negotiated with a water flood project being proposed.
I believe Trinidad offers better terms for fields with EOR projects, they have for the CO2 on Trinity field and maybe the historical Water flood agreements are outdated to current market conditions.
In Trinidad that is..
It would be good to know the potential CO2 amounts the Ultra low sulphur refinery will produce on its expected opening in 1Q 2020.
There’s nothing better in the world to capture and store CO2 than a tree it’s additional benefit is it’s storage and retention of H2O which is actually causing global warming as it reduces the amount in the atmosphere.
EOR is good, but at the end of the day it’s an efficiency method for oil extraction.
Be it new tech, new manufacturing methods or products.. non will reduce the required energy as a whole. The only change is the source of energy for the end user.
Personally I can’t see Electric vehicles replacing conventional cars doing anything for global climate change but I do see local environmental benefits and massive environmental issues arising from their manufacture.
Aviation fuel consumption has increased 20bn gallons per year from 2014.
Marine sector 2017 saw 3.8m barrels per day. 1st Jan 2020 saw tighter restrictions on sulphur content, seeking a reduction of sulphur by 80%.
Is this the first deep* well West of Los Bajos fault line (onshore)?
Guyana*
First potential major offshore oil find for Suriname.
‘Apache Corporation (NYSE, Nasdaq: APA) and Total S.A. (NYSE: TOT) today announced a significant oil discovery at the Maka Central-1 well drilled offshore Suriname on Block 58.
Credit Suisse signals investors expect a gross oil resource of 1.45B-1.78B boe for offshore Block 58.‘
Close to Ghana boundary.
A Good Meticulous move. :)
Preferably hitting oil in the Upper Cruse, the Middle Cruse and the Lower Cruse. :)
Let’s hope new drilling techniques improve on your prediction. :)
I assume this decision took into consideration of corporate loans to be zero by mid-October 2019?
I’m Dreaming the new SA field will have no SPT, any successful well brought onto production will allow any CAPEX spend offset any royalty rate applicable. Allowing cost recovery within a pretty decent time scale. :D
Ohhh.. CAPEX offsets SPT and 0% on Royalty rates! :D
“Rental: US$70,000 per annum (escalated up, or down, depending on the prevailing WTI oil price)
· Royalty: Half-yearly stepped payments of up to 12.5% are payable on gross production, capped at US$2m/annum (with no royalty payments due for first two years of production, 10% payable for years 3-8 and 12.5% from year 9 onwards)
· Drilling Bonuses: TT$100,000 (circa US$15,000) upon the spud of each of the first three (3) deep wells.“
‘Rental: US$70,000 per annum (escalated up, or down, depending on the prevailing WTI oil price)
· Royalty: Half-yearly stepped payments of up to 12.5% are payable on gross production, capped at US$2m/annum (with no royalty payments due for first two years of production, 10% payable for years 3-8 and 12.5% from year 9 onwards)‘
Cost recovery levels will be another to look out for ?? ??
:D
Lind will be gone by September.. won’t be them.. will it?
I’ve seen similar figures of 500mmbls recoverable for their one discovery. It’s made it a very sort after area (offshore) for the big boys.