Member Info for pauldrayton

Ark87, when I re-read the Serenity CPR it put me off buying EOG. I don’t think they were totally transparent about the original SA01 well which encountered a lot of water wet sand as well.

Frankly their entire model is a load of rubbish. They would have been better off sidetracking both the original Liberator well and the first Serenity well rather than drilling separate wells but there we go.

There may be an argument that some oil on i3 acreage will get produced alongside Tain but I’d forget about Serenity as a whole for now.

I think the company have been at the very least naive, bordering on disingenuous.

Thanks Ark! I don’t think there was anything malicious from I3E but their reply to me was clearly nonsense.

Petrofac knew on Friday - you don’t hire vessels to prelay moorings for a rig move weeks in advance. They would have know on Friday for sure.

I think Petrofac knew on Friday and I3 were behind the times when they replied to me - you don’t book a vessel or a rig move weeks beforehand.

To be honest having read the CPR I’m not surprised by this result. The fact they could only get a minnow to farm in probably told its own story and I don’t think they have the best technical team working on the North Sea assets. I suspect they may relinquish the license now and concentrate on Canada, which thankfully is a solid base.

Very disappointing but not the end of the world.

The last two supply boat shipments have come from Tananger rather than the usual Mongstad. I don’t know who is conducting the DST but both Expro and Schlumberger have bases in Tananger, and I would guess it might be one of them. The equipment should be on board soon.

You’re right Mozza, which is why I corrected myself after thinking about it further - I don’t think the sidetrack plan in the original document is relevant anymore. As you say LBE are often quite generous with their timeframes. I guess that’s to manage expectations and prevent shareholder stress if there are delays.

To be honest I’d rather they take their time and get the DST done right anyway - they will know roughly how it should perform already.

Haha well a lot of them are at the moment - not sure if that’s good or bad! But with energy prices where they are I still see upside even in what’s going to be a very difficult market.

With regards to LBE, it’s been mostly disappointing until now, but they are currently testing their Oswig discovery which looks potentially exciting.

I’m hopeful for I3E & EOG with Serenity but take nothing for granted in exploration and appraisal - let’s see what the rest of the month brings.

Yes apologies for the stress!!

I also have Monday 17th pencilled in but could be sooner or later depending on what they do or don’t find.

To contradict myself, they might use a slightly different well design than the one in the OMV document because the original sidetrack plan was a contingency for any problems downhole, rather than for a well test.

Also, they will probably just drill the Tarbert formation and isolate that, and ignore the deeper Ness formation for the DST.

If so then the TD is shallower and that would be a shorter drilling time. Results could therefore come a bit earlier than I previously suggested - maybe last 10 days of October.

Biggest risk is mechanical or formation issues I would say.

Apologies for the unnecessary stress on a Friday night - have a good weekend.

Petrofac manage the well services so they are doing all the drilling work.

PS. Sorry everyone for the unnecessary stress!

From I3E (I emailed and they were kind enough to reply):

Our operations are proceeding as planned. We have not had any results yet or experienced any major issues. We have not contracted anchor handlers for a rig de-mob; it would be far too early to do so.

If Petrofac have booked vessels, it is likely for pre-laying of buoyed anchor chains at the next location for the rig, being done well in advance of rig arrival at that location.

From I3E (I emailed and they kindly replied)3

Our operations are proceeding as planned. We have not had any results yet or experienced any major issues. We have not contracted anchor handlers for a rig de-mob; it would be far too early to do so.

If Petrofac have booked vessels, it is likely for pre-laying of buoyed anchor chains at the next location for the rig, being done well in advance of rig arrival at that location.

Yes that’s possible Ark87 but let’s have a look at the options:

1. Drilling complete and a successful appraisal. If so then why no sidetrack to appraise further?

2. Drilling complete and unsuccessful. If so then why no RNS today?

They can sidetrack from the current wellbore in all directions, whether the result is good or bad, so why move the rig?

I’m a bit confused so that’s why I’m guessing drilling issues and are-spud which would be annoying because it’s a 3 week delay by the time they start again.

But I can’t see a logical reason to move it otherwise, and as Tony says they would need a separate permit.

My guess would be re-spud Tony.

I wouldn’t read anything into the EOG tweet personally. If they’re moving the rig to its next job already then clearly they aren’t sidetracking - which wouldn’t be a good sign. Does anybody know where the Stena Don is going next? And if Petrofac aren’t managing the next well then it wouldn’t be them requesting the AHTS. It suggests to me they’re moving the rig to another location on Serenity - for what reason I don’t know but I would guess drilling difficulties.

I’m purely guessing though.

It’s strange there was no RNS today because clearly both I3E and EOG would have known they are moving the rig for whatever reason.

Very strange, especially as they’ve been drilling already for a couple of weeks. If there were issues you’d think they might be able to plug back and sidetrack. Unless they’ve been battling problems for some time. It’s unusual to move the rig but it does happen occasionally. I guess we have to wait until Monday, unless anybody is in touch with management?

FYI:

https://intermoor.com/services/offshore-mooring/pre-lay-and-rig-moves/

My guess, and it is just a guess, is that this would be due to drilling problems rather than the Serenity result. I honestly have no idea what’s going on though. Anybody in touch with the management of either company to confirm?

See here Tony. Suggests a rig move to me:

https://intermoor.com/services/offshore-mooring/pre-lay-and-rig-moves/