Member Info for indi123

Seekinvalue, the logs are giving snapshots of results while production testing progresses. We will only know the full capability of the well when testing is com

Very informative discussions on the board today - sincere thanks to all contributors.

Fair point SCE2.

Hope the extract below (from the article at the given link) will help to explain timescales :

"Developing New Oil and Gas Fields
While new wells in developed reservoirs can be drilled and brought online in a matter of months, timelines for production from new fields stretch for years because they have complex permitting requirements and require the construction of infrastructure such as pipelines and storage facilities.

One study found the world's largest oil and gas fields averaged 5.5 years from discovery to first production and took 17 years of production on average to reach peak output.
10
Chevron Corporation's (CVX) Gorgon natural gas development project off the coast of Australia took 30 years to progress from discovery to construction and nearly six more years to start producing liquefied natural gas.
11"

https://www.investopedia.com/ask/answers/061115/how-long-does-it-take-oil-and-gas-producer-go-drilling-production.asp

No s**t Sherlock!

Thanks for the clarification Argylerich.

Not quite the correct context, but thought I'd post it nonetheless:
“Most people use statistics like a drunk man uses a lamppost; more for support than illumination”

Could it be the dates on the website are in US format in the 'Report Received' column and UK format in the 'Report Period' column? A bit rubbish and confusing if this is the case.

Are the dates in US format?

Seekinvalue, are you sure you're not confusing the 'Report Received' and 'Report Period' dates?

As Adon30 pointed out, the 'Report Received' dates are over a year later than the actual 'Report Period' dates.

Agree. Could you share the link please?

Seekinvalue, as others have already stated, your assertions are based on historic information from over a year ago when the well hadn't been fully completed and tested.

While the rest of us are awaiting up to date production test results from the company, you appear to be promoting an assumption-based negative view.

I wonder if there is a hidden agenda in play here.

As Setanta suggests, all a bit hypothetical.

I hope there's a barrage of news from the company this week to help clarify things.

I think you're being a bit premature with the conclusive tone of your evaluation .

Let's wait and see what the company's testing has revealed.

Seekinvalue, if 12 days of production gave 815bbls. At $75 per barrel that would be approximately $150,000 per month in revenue from one well. Multiple wells of this type could bring in millions per month.

SpArmada, IMHO that is a flare. Some of the other filters, e.g. atmospheric penetration and SWIR, make the flare standout a bit more.

Thanks Adon30.

Also, the last time I looked, there was a logfile to download for well 16-2 which was giving last year's data. It's now gone.

Just nice to know things are moving. Further, the 'Well Type' is flagged as 'oil'.

So 16-2 has been designated a producing oil well on the Utah government's website. Soon enough we'll know the volumes.

What's also interesting is the 'Well Status' for 16-2 is now showing as 'Producing'. When I looked on 2nd Feb, I'm quite sure it was shown as 'Shut-In'.

And as always, thanks to you Adon30 for the latest info.

Thanks for the info Seekinvalue

Williston quarterly profits should also be RNS'd next week at the latest - within 45 days of end of the quarter.