PetroChina recoup $100m approx12 Aug 2014 05:48
from 3 March 2010 to December 2103 from GCZ only a 67km block on GSS. Thats production from 104 wells, on coal seam 3 only.
Anyone know if any of the wells are LiFaBric ? If not then how would the deeper, more gas prolific seam 15 produce under LiFaBric reworking ?
Quote from Rg , Ops Update OCT 2013 :-
"Furthermore, at GSS, the Company's production team has sought to apply the LiFaBriC completion methodology to our existing vertical wells drilled several years ago in order to boost their production potential. The accretive nature of this activity will be felt during the current quarter, but I am pleased to be able to report that for the four vertical wells enhanced to a LiFaBriC, the results were truly impressive - with gas in as little as 30 days following intersection. We expect to deploy this pattern to conclude our drilling program for 2014, to both vertical wells drilled by Green Dragon as well as the additional wells drilled by third parties on our licences. Of the significant number of wells drilled by third parties, many are producing sub-optimally given the subsurface nature of the geology, and as such, through deploying this methodology there is very clear potential for greater production and associated revenues."
Imagine what could be recouped with just 50 wells being reworked on LiFaBric on this very small licence ?