Bloomberg Article22 Nov 2018 09:56
Good article - a few key reminders for me:
1 The test of a good result? Hurricane needs the pressure underground to stay as high as Trice’s models predict, showing the cracks in the granite are interlinked and the pooled crude can flow freely to the surface for a sustained period.
2. “The productivity and longevity of that productivity is a concern” with fractured granite, said Ariel Flores, BP Plc’s president for the North Sea region. “There’s a lot of uncertainty and risk.”
The primary risk is in the rock. While sandstone is like a sponge, where fluids move about freely into a well that brings them to the surface, granite is like a piece of glass. Crack a pane of glass in two separate places, and you can pour tiny bits of oil inside each fracture, but those deposits can’t reach each other.
3. Flores said he's watching Hurricane's progress closely and will probably drill its own basement development well in the next couple of years.
4.Even after the discoveries Trice has made, he’ll need to produce oil sustainably to truly win over his critics.
Proof of the pudding will be in sustainable productivity as the acid test of RTs work and model. When (in my opinion) that happens in the near future and the risks dissipate, the critics will be silenced and the potential of this prospect will be very rapidly realised.
RFTS