Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
there is no cloud coverage over the Amungee pad today. The resolution does not allow us to see individual trucks.
Pro tip: try the moisture index filter to appreciate the civil work done
https://apps.sentinel-hub.com/eo-browser/?zoom=17&lat=-16.34442&lng=133.88284&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2023-02-17T00%3A00%3A00.000Z&toTime=2023-02-17T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22
presented without comment:
• Tamboran has commenced its first Beetaloo Basin stimulation program at the Amungee 2H (A2H) well in 38.75 per cent owned and operated EP 98.
• The program, which will include up to 24 stages over a 1,200-metre horizontal section within the Mid-Velkerri “B Shale”, is planned to be completed within 2 – 3 weeks. The campaign is being conducted by Condor Energy Services, a respected Australian energy services provider.
• The A2H stimulation program has been optimised with proven US-style shale stimulation designs and techniques, including the use of 5-½-inch casing, widely considered the optimal casing size to place a high-rate hydraulic proppant. • This increased casing size allows for the placement of sand and fluid at an increased rate to the perforations during stimulation. This is a proven concept that has been known to deliver significantly higher production rates and Estimated Ultimate Recovery (EUR).
https://investi.com.au/api/announcements/tbn/0c8f1db1-a81.pdf
@newtofo, I haven't heard of any major delays. Good chance operations will start this week, if not started already. I do not have any first-hand knowledge and am not in the area atm
Amungee 2 pad loads correctly, just cloud cover
https://apps.sentinel-hub.com/eo-browser/?zoom=12&lat=-16.31174&lng=133.83579&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2023-02-12T00%3A00%3A00.000Z&toTime=2023-02-12T23%3A59%3A59.999Z&layerId=2_TONEMAPPED_NATURAL_COLOR&demSource3D=%22MAPZEN%22
because of volume required, they are using megaliters frac ponds. Only handful of frac tanks are needed during the job; used to store enough water to create hydrostatic head on blender and displace casing volume if there are issues w/ water supply from the pond
because of volume req
we may hear something in a week time. Weather is holding up so far
INPEX has some acreage in Beetaloo (EP318 around Daly Waters High, https://www.inpex.co.jp/english/news/assets/pdf/e20150213.pdf) but is traditionally disinterested in it.
Don't blame them - offshore gas is many orders of magnitude more productive and something they have experience with.
Empire knocks it out of the park again.
Hope it will turn the tide that raises all ships (and those who are swimming naked:))
• Carpentaria-3H (C-3H) has been successfully stimulated, significantly below budget, delivering all 40 planned stages across 1,989 metres (6,526 feet) of horizontal wellbore
• Total estimated cost of $17.3 million is approximately $3.6 million below the risked budget, bringing the total cost of drilling and stimulating C-3H to $27.3 million, approximately $5.9 million below the risked budget
• Flow back to commence imminently with gas flow rates expected in the coming weeks
• Carpentaria-4V (C-4V) has been successfully drilled to a depth of 2,000 metres (6,562 feet)
• The well encountered the thick, gas-charged Velkerri shales according to pre-drill prognosis
• The shales are ~150 metres deeper than at the C-3H location, providing additional
pressure support to drive enhanced gas flow rates in future development scenarios
• C-4V was drilled for $9.8 million including mobilisation, demobilisation, casing, cementing and formation evaluation, which exceeded the risked estimate by $0.8 million due to weather-related delays
• C-4V formation evaluation results to be incorporated into new independent resource assessment expected later in Q1 2023
• Current cash balance is $23 million and the new $15 million credit facility remains undrawn
https://app.sharelinktechnologies.com/announcement/asx/338266f274a26e7bee60fc6e884fe658
A month ago there were ~10-15km detours on the first 50km; it is open now with new blacktop. Locals (sample size 1) are rejoicing and saying it wouldn't have happened w/o gas exploration.
Much safer to travel on two lanes; for the most part, Carpentaria Hwy is still one lane road. No impediment to moving heavy machinery. Frac pumps aren't as heavy as rig components, and I've seen rig driven today.
The Amungee pad is close to the blacktop; the blacktop part isn't a problem. I'll leave it at that.
Short interview w/ Riddle https://www.youtube.com/watch?v=LWyLfCKuays
He emphasises the importance of 5-1/2" casing and US-style high-intensity designs and continues w/ a disingenuous statement about drill time and cost.
I do not see eye-to-eye w/ that.
But doesn't matter, 5-1/2" just cost more and shouldn't hurt productivity (they may incur cost of velocity string installation)
@newtofo, not at liberty to relay little details I know, and I'm not involved w/ the new Amungee wells.
The road should be OK; there is a closure over Xmas & NY period for oversized cargo, but they can move the 2nd week of Jan. Service company should be free from their prior commitment. Proppant purchased. Unsure of chemicals logistic.
My best guess - is the delay is caused by regulatory compliance requirements, possibly around frac chemicals risk assessment and one other stupid thing NT Gov forces operators to do.
The weather could be better, and Jan-Feb is usually the wettest.
Lec quote is a loose translation from memory. Incredible guy.
@dprussky - "Never suspect when reasonably sure." Stanislav Jerzy Lec
Presenting well cost ($14.1M)w/o casing and cementing is, how should I put it, a bit unusual...
Some of the wells I'm familiar with are notably absent from the time-depth curve.
No 2nd well and no frac on A-2H till probably the end of march (unsubstantiated wild-ass guess).
Good that they'll be adding four stages.
Sorry for late reply, long days.
T2H & T3H both 4-1/2 casings. Both needed production tubing - meaning rate was dropping below ~1.5 MMSCF/D assuming low test pressure.
5-1/2 will only “give” more gas if formation provides it. You would use it if expected gas rate exceeds erosional velocity (~40 MMSCF/day, from memory).
EEG haven’t used production string on C2H. Lateral on C3H is more like 2.5km.
5-1/2 have advantage over 4-1/2 for operational efficiency - can treat more perforation clusters at once. Needs to be coupled w/ frac horsepower availability. It comes at expense of effectiveness of stimulating individual clusters - the more you have, the less chances all will be treated. Even when using extreme limited entry flow diversion.
Best of my knowledge TBN not planning to pump above 80-90bpm on A2H - 4-1/2 would be good for up to ~60-70 depends on fluid/grade/depth.
Don’t know all details; availability often a driver although 4-1/2” are common and reduce drilling cost as all other casings/ BHAs/rig can be smaller, hence cheaper.
Bottom line: development - 5-1/2; exploration&appraisal - 4-1/2 have advantages.
Short-term production logging test, as announced in their recent activity update
Yeap, EEG announced the same. https://app.sharelinktechnologies.com/announcement/asx/05ed3e67f4e3e1d6dcfef92b02d3ede2
Oz is turning Venezuela faster than I thought
I'm on the East Coast when not up North. Not a golfer, soz.
I don't have any insights into what Labor wants. My guess, just like any politician, they want to stay in power. In current conditions, it means keeping the lights on. There are many indications they are trying to be less harmful to the industry, but as I say, there should be a complete overhaul. I don't see them stopping Amungee - this will end up in courts in no time.
they need to scrap all regulations and start from scratch. It's a mess