RE: CPR, Tech Review and Reserves Downgrade31 Aug 2020 08:15
@ADUK yes, theoretically, you can run a coiled tubing in an open hole. But in this case, they have said the well bore typically dropped a few feet each they encountered a fracture. The hole isn’t straight. So it’s unclear you’d get it all the way to the toe successfully. Did you ever enjoy a stuck coiled tubing in your years on the field ?
And in any case, they haven’t done it. Dr T could have planned a job as soon as he saw water in the 7z but he didn’t. So we’re left guessing now.
And by the way, leaving a barefoot completion in both wells (because it was cheap) is also his mistake.
Now regarding the OWC, everyone and his dog in the industry that looked at HUR acreage ever since IPO (there was a farm-in campaign back in 2014) was sceptical of it.
Admittedly, many were too sceptical overall. In the grand scheme of things, Dr T found a huge oilfield and kicked it started. Great accomplishment. But it’s very possible he got the OWC wrong and stuck with this mistake too long.
And again, his key argument was that he found hydrocarbons below structural closure, which is true. So I’m not saying his position was senseless. It’s just that with 16 months of production record + failed Warwick deep + half failed Warwick West and Lincoln Deep, we have enough data to make a call.