Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Hopingforbags - Good morning, please can you elaborate on what kind of seismic can be done in a day? Do you mean releasing news or acquire it? Or process it? or interpret it?
I have researched the woodside one they did one stage of processing in a few hours which unbelievably quick compared to a few years ago, not sure how much time was spent testing it before it was submitted to run on the cpu, do you know that?
Big companies wise, I've once heard Total do a fast track Pre-stack depth migrated job onboard a vessel and got the rig on site for drilling within 10 months but that’s very fast, another one is the BP Wolfspar project in GOM, that used a thing called a marine vibrator and ocean bottom nodes for data acquisition, think the job took 2-4 weeks. Processing used some very clever algorythms to run through all the stages and took 6 weeks, 8 weeks in total. So you can see seismic in a single day doesn't really work. https://www.reuters.com/article/us-bp-seismic-focus-idUSKCN1PC0HF
Baron Oil is reprocessing seismic data, so no acquisition time to factor in. Due to re-processing in time and depth domains, is why it is taking longer. I have seen these types jobs go on for 2 years before if they're large and complex.
What takes the most time in processing is the testing of the parameters at each stage (see list below) and liaising between client/s and contractor, which may involve many meetings and lots of powerpoints. If they could utilise AWS 1mill cpu's once each test is signed off then yes the run time would be a lot quicker.
Seismic processing fast track stages (in time domain):
-Source de-ghosting, de-signature and de-bubble derived from the near field hydrophones (one signature per survey)
-Receiver de-ghosting
-Linear and swell noise removal (multi-domain)
-Seismic Interference removal (if present)
-Overlapping shot de-blending
-Full Set of de-multiple tools (SWME, 2D/3D SRME, Hi-Res Radon, Deconvolution)
-Velocity picking (2nd order and 4th order)
-3D Regularisation
-PoSTM, PSTM & PSDM (Post Stack Time Migragrated, Pre-Stack Time Migrated, Pre-Stack Depth Migrated
www.shearwatergeo.com
I don't doubt we will be above $70 for a while you just got to think how many planes aren't flying right now for instance. Another thing to point out is, us lot in Europe are trying to steer away from fossil fuels but as soon as you go to more developing nations then its staring you right in face at how much dependance relies on O&G.
No worries at all, I think those estimates are given when they factor in lot of challenges and any mobilization/demobilization times. So when they do it quicker and under budget it comes across as a positive on top of positive news (fingers crossed).
I couldn't agree more as I've been buying and crying with this share since late 2016 so this last couple of weeks has been brilliant and looking forward to see where we will end up in a couple years.
Good thing about the BOD is that they set this company up in 2015/2016 and knew they had to have a company that is robust to oil price crashes which sets us up good for the future.
Bebeto,
ASD-1X well's target zone is approx 500m less than the ASH-3, so should be equate to less drilling time as long as the geology is similar between the two wells and they don't encounter any other issues during the drill then it will be possible to calculate how long it will take to reach that depth and then on to TD based ASH-3 progress. Another point to note is that ASH-3 was a development well thus it comes with increased time and effort spent on testing various zones with measuring tools and then getting the well production ready.
ASD-1X being an exploration well they will be drilling into the target zone and not focusing as much on testing at this stage compared to ASH-3, so surely we will find out news quicker when the target is reached and HCs have been identified or not.
ASD-1X is a vertical well like ASH-3 and that has been chosen to target the 4 way dip closure, well trajectories could be change if they wanted to target somewhere else, hence would take more time, but the structure of the geology this time supported the plan for a vertical well. It will probably drilled just off the crest of the structure.
Aside from that are many things that could mean a well could take longer then planned, but slb wiki will probs have the answers.