RE: Biscathorpe decommissioning due23 Apr 2026 14:16
Greypanther REABOLD LSE:
As a former geologist, I've not been exactly impressed by the expertise of either Rathlin or Reabold up to now, so I wouldn't be surprised to see them screw up the proppant squeeze. But Corelab and RPS are in another technical league. However, If you look at the WNA-2 core log by Cambridge Carbonates (it's still available on the Onshore Geophysical Library website (UKOGL), you will see that there's only a thin interval at the top of the core that has any real permeability. Even then, it's within a low porosity/permeability interval. Unfortunately, we don't know for sure if that's where Rathlin will perforate the well for the squeeze. So what's the betting they'll select the much thicker interval lower down the core with far lower poro-perms? If they do that, they will be very lucky to get a flow, and probably not even 500,000 cu. ft /day IMO.