George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Alligator, praise indeed for the work the rig carried out the drilling, i dont think you understand SNS issues. If you want to proportion blame look elsewhere. There are folk who know drilling and those who don’t I’m afraid. You must be in the latter category.
An alligator with no bite will end up starved and wither away, I say one thing when you know, you know. When you dont then you dont. An excellent job done by the rig and crews doesnt automatically mean success. I suggest alligator that you are probably hurting and you dont really mean what you saying. Sit back and think of what’s been achieved and still to be achieved.
With the rig moving from Blythe, I am sure that Friday will result in production coming back on line. H2 probably will be brought on to clear line to Bacton, this may take weeks then H1 can be brought online to bolster flow rate, given that H1 produces water at higher rate it may contribute
Folk have to put into context what it takes to organise an off contract rigmove, these ops take time to set up and clear the rig of all company rented equip. Boats need contracted for the move as well. As for saying that agency workers are taking their time is ill informed speculation. Everyone associated with the platforms scaffolders or otherwise are contractors and agency. I am not sure if the rig has another contract, but remember that the next rig to come later to drill other wells, will be at a higher dayrate cost. Read LinkedIn and see that day rates are going up. H1 & H2 will eventually flow together and this dual flow will eventually clean out the pipeline of water to allow higher flow with minimal water, giving the company much needed respite.
H3 on a 2 slot platform, with the 2 wells drilled, that was designed for 15 years lifespan?. There is still the stigma of the most expensive lighthouse in the SNS, also Elgood needs work before online again. So expenses will still be high for some time.
To call a rig that works in the SNS unlucky, goes to show the lack of knowledge of some. The SNS basin has and always will be difficult area to drill, the fact the rig encountered these problems and dealt with them shows how good a rig it is. IOG took on and choose the areas to drill, the reward has been poor to say the least and coupled with the difficulties have learned a hard lesson. Obviously the SP will recover as they start making money instead of spending, however Elgood still needs sorting, no mention of that.
Jdosso are you sure about a vessel named Ural River at that location. Does not show on AIS ship tracker. Why would you want to cross your fingers, you hoping to dredge up some gold.
Someone says drill H3, unable to do that as the platform is only a 2 slot platform. Elgood is the forgotten one, however there must be a reason for that, like it is a big job to get it back on line and costly. Going forward plenty issues to resolve.
7m sold 3m bought, plenty supply demand poor.
A lot of desperation by some posters, ask yourself a question. If you had invested a fortune in a pipe dream and it has gone sour because the jewel in the crown has not come to fruition, the remaining part of the dream could literally turn into a mare. Would you put in good money in ? to chase after bad. Warren Buffet didn't get where he is today doing that.
IMO Where does an easy fix come into it, H2 remedial work carries risks as well. H1 will only be used mainly in winter, 2 wells from a small reservoir you dont want to induce more water coning, by drawing down too much, also dont want to incur the costs of using MEG all the time or even disposing of water at Bacton.
Showing an article off last year means nothing. But you have highlighted that in the article that other firms wouldn’t touch the area.
When will they produce 35-40 m scuffs a day? H1 is to be shut down as the costs to remove water at Bacton is very very expensive month in month out. So based on RNS 20-22 m scuffs from H2 will be the norm. Remember that it is not a given that there is a definite mechanical issue, it is as the RNS says a potential mechanical blockage and possibility of rectifying the potential issue. So a long way to go and a long shot with risks.
You read on here from regular posters and think what are they on. Folk hoping gas price for a therm increases so that ordinary folk in the street have to pay for their foolishness of buying stock at high price, only for them to try and claw back. A good old saying a fool and his money are easily parted. Others blame contractors, where they get info from defies logic. Surely everyone knows you take risks in any sort of investment dealing. Others have conspiracy theories they have a vivid imagination by the looks of things. Who is to say that it is another Ecite energy or Hurricaine energy outcome take the risk take the hit.
What a load of codswallop, you prove that all you can do is speculate.
Cannot see drilling finished yet, last weeks RNS had them just getting over the loss problem.
Having read some of the drivel amongst some possibles of ST, the WOS is strictly semi a drillship work not a jack up area. The cost will come down to completion equipment if there is known already on the HUR shelf, the ST sounds so simple you would think, however the fact that swarf and debris are a well killer long before you do anything else. Then the fact drilling with brine and the loss scenarios in the granite, after all this is what they are looking for massive losses. Drilling rates mentioned in other posts are what one will say is ridiculous. You are using TCI bits which have a limit on bottom, if you did 5-600 ft per day before tripping would be good. Plus possible tripping with large static losses now it sounds easy doesn’t it. But remember before you even start ST it is a live well with a tree, so plenty prep work to be done before hand. You have to have deep pockets for contingencies costs. Putting a day count on it now is wishing for best outcome.
The fact no announcement means there is clearly plenty time in making a strong case for further funding, plus a long lead time on critical items of equipment, they have the tree equipment but possibly waiting on downhole equipment in stainless. The lay of the land has changed dramatically, Spirit were due to be operators of the field at some point in future, so lots of ifs and buts.
I don’t know how what or when you managed to come to the conclusion of blaming Petrofac or Schlumberger. You say you are an oilman that I would question, because you would know the process of what it takes and is decided before during drilling a well. The latest technology was used, if you kept up to the posts before drilling a during drilling you would of noticed that. I have seen you begging everything up only to fall flat on your face so to speak. Now you looking to blame someone.
Once upon a time not too long ago, there were some really good investors (well they thought they were), on bulletins boards telling everyone on how their expert knowledge on a company would make you very very rich in a short time. At every opportunity they would say buy buy buy.Now it seems that they meant bye bye bye. Which in true fairytale tradition they did. Now every time you see a super yacht a private plane or helicopter, just think to yourself and wonder is that one of the. My feeling would be Nope. Remember no one tells you they lost, always have a get out clause I bought big when price was low. So my spread is even now so really I didn’t lose out. Remember if something sounds to good to be true, watch out.