The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Do yourselves a favour and call Paul at the Calgary office and ask all these questions directly to him. He is very open and engaging. He is more than willing to talk about the test results and what happened in the upper zone at Chinook.
Fluid hauling trucks that haul here in the fields I work in haul up to 50 cubic meters of fluid in a load, depending on configuration of truck and trailer. 200-300 barrels would be an average load. It is a small island. Hauls should be fairly short. Trucking would be an increased cost but the amount of condy/light oil produced would pay for it easily.
I asked him a while back about using a larger set of test equipment not “flow test rig”. A service rig comes in to complete the well after it had been drilled. A rig is not required for the flow test once packers, tubing, etc are in place. Testing equipment ties into the wellhead and allows gas(in this case) to flow from the well through temporary piping to a three phase separator where the amount of gas is measured along with the oil, and condy (phase 2) , and finally water phase 3. Included in the piping will be an adjustable choke which allows for the testers to open the well safely in very small increments.
So in asking him if they would use larger test equipment, he said no it was not needed. They would use the same equipment sizing as before. In saying they would likely be using the same test equipment, I was referring to the size of the test equipment. The amount of equipment on the island is limited.
As far as the testing equipment being used at the BP site, I have no idea if it has been released yet.
As long as they can draw down the well pressure at the limiting rate of the testing equipment, they run pressure recorders to measure a few things including how quickly the downhole pressure returns to initial measure. From these they can determine the flow rate capability and estimates of reserves. Ideally you would be correct asking for larger test equipment if they cant drawdown the well by much. Thus we have a massive well on our hands. Fingers crossed.
Scott22, I just watched the Jan 14 presentation and he mentions that the test rate was limited to about 5500 boepd. Didn’t mention that that would affect the IP rate. Maybe I missed it somewhere else. Could you post the time on the video where he mentions that the IP rate was affected by the test?
Boom Boom, in a recent email with Paul, results will be released as they become known so not all at once. And Scott22, the same testing equipment will likely be used. Paul has said that they don't need to test near AOF with the test equipment to do a proper analysis of the reservoir.
Xavmoon mentioned the 52 exploration targets that were identified many years ago and that Cascadura was the first one drilled. Did he mention whether Chinook was one of those original 52 targets? Thank you.