We would love to hear your thoughts about our site and services, please take our survey here.
The simple truth to GGS working or not is the rate of gasses being flared.
Prior to the new installation COPL was flaring millions of cubic feet per day due to the system not being able to cope with the amount of gasses coming out of the ground.
If anybody cares to check the official WYGCC site you will see that flared gases are almost at zero, not only is the system coping with gasses that naturally occur when oil is produced, but additional new NGLs are being injected at a rate beyond 4mcf per day and its also coping with this new level of pressure.
There is a time lag of between 4 to 6 weeks before the pressurised field starts to produce at higher rates as seen in 2021 which was the last time COPL maintained high injection rates.
A little disappointed, but lets understand the reason why talks broke down.
Did they make an offer that was rejected? (This would be positive)
Or did they walk away after months of DD after finding out Art was selling a hollowed out hole in the ground? (This negative)
I want to hear from the BOD where we are in terms of production, and what the forward looking production rates are into Q2 2024.
Key to success for every oil producer, is the simple need to produce oil.
This is after all a simple fracking play, in the middle of a safe jurisdiction (Wyoming) where oil is found in abundance.
COPL did not find this oil, we took over the company ATOMIC when poo was at a minus figure. They were on their bottom, further deeper pain was being endured by their smaller partner CUDA... (Note;- the oil was originally discovered decades ago by Mobil Oil) a small WI was and still is held by CNOOC
In Jan 2021, 1000mcf per day was being injected, giving oil production of 40k for the month.
Over the next 4 to 5 months, injection increased steeply to 8mcf. August 2021 produced 62.5k bls of oil.
Since July 2021, rates of injections have reduced constantly, until the low point of July 2023, where they were at 2.5mcf.
Overlay the dates COPL acquired both Atomic and Cuda (and the confidential well) and you get an interesting picture.
Scroll forward to now;- New GGS now capable of coping with sustained higher pressures. More NGL's going in, no flaring of produced gasses, enough OPEX to sustain this level and increase beyond 8mcf per day.
All sales are now unhedged.
Now unless all that oil has just drained away somewhere, we should see increases in oil on a par with the rate of NGLs going in.
The new GGS involves some new top side infrastructure, together with miles of sub surface steel pipe, that replaced the inadequate HDPE pipe work.
This is what I am interested in, JV was always Icing on the cake.
I would be grateful if you point out one lie I told.
My most recent posts are alla bout how the GGS is working. And using published data from WYOG you can also see for your self.
Flaring is zero, injection rates are increasing, oil production lag of 4 to 6 weeks.
JV talks have stopped, so what has that got to do with getting the current field above 2kpd?
No I have consistently stated I am not invested for JV. If it came then that would be the icing on the cake.
Unless you can tell me the new GGS is not working with fact, then I remain a believer that the new kit is working.
I am surprised as anybody here.
But like I keep saying, I never bought in for JV, I only came for 5kpd.
Those that have bought in for JV are currently disappointed.
Those that bought in for 5kpd still have a chance of success, as the new system in place and is seemingly working as it should.
Maybe we walked away as the value was not as we saw??
I am still holding and considering buying more. A lot of margin calls were made today with Long SB.
Lets see where the price is in a few days time.
I am hoping the update on production is on the right track.
“Our Powder River and Williston teams are working together to turn the Powder River Basin into the next Williston Basin, and that’s very exciting for our entire team,”
Hey hold on a mo...does COPL,now not own a huge amount of PRB WI?
Just get the fukcing oil out consistently. Other doors will then open
The evidence, as officially presented, strongly suggests, that the miles of new steel pipes, and some new anti BBQ surface infrastructure is working as it should.
(ie) it is now gathering all of the previously flared gasses and reinjecting. The official figures tells you that, in addition to the recovered gas, new gasses are being introduced. $500k "Gretatokens" per month. Higher pressure being sustainably built up.
Eazy is not the only great researcher pointing these facts out.
But a "concern" subject, that some peeps, want not to be "going" on about..
Seeing something dangling in front of your eyes is great for confirmation I guess.
Trans your homework for tonight is to long on to WYOG below and come back and give us some percentage changes...
Flaring ratios.
New injection rates.
With a known time lag of 4 to 6 weeks can you extrapolate the data, and project when COPL will surpass the 2kpd mark..
SEING IS BELIEVING...
For anybody with a curiosity for numbers...
http://pipeline.wyo.gov/legacywogcce.cfm
Provides all the details about what's flared, how much has been injected and how much oil is produced.
Flaring almost zero, new injectates growing month on month. Oil increase to shortly follow. IMHO
Trans,
As a kid I got an A for both Physics and Chemistry.
Like you though, I do struggle with basic Biology. Its difficult to understand which que to stand in...
The body tells me I should stand there, but my mind thinks I should stand somewhere else....
What we do agree upon is that COPL is a STRONG BUY...;-)))
You do not have to take my word for it working.
Just log on to WYOG site and it tells you the monthly amounts flared and injected gasses, alongside the oil produced.
Previously we were flaring gas like there was no tomorrow, costing $100sk per month in burning gas that had to be replaced.
Now the system is designed to cope with the excessive pressure, so flaring is now minimal. All that gas that was just burnt, is now being reprocessed and reinjected back into the field saving us a small fortune. Add in the additional injection rates and you will find that simple physics and chemistry takes over.
More pressure equates to higher production yields, with a time lag before full enjoyment ensues....
Akin to blowing up a (5 Star) rubber doll, before you get to enjoy it...(Ken or Barbie it matters not!!)
Judging by the flaring and injection rates published on the official WYOG site the system seems to be working as it should.
Flaring excess gas has ceased. Injection rates up.
COPL has enough Opex to maintain and further increase the field pressures.
With a time lag of between 4 and 6 weeks for this to be felt in the oil production values we should be very close to seeing increased production, and Going Concern being a thing of the past.
Blue sky's currently in Wyoming...no snow!!!
Https://www.weatherbug.com/traffic-cam/casper-wy-82601
Live web cams show that snow has yet to fall in Casper Wyoming ...
Maybe this year will be a typical year with low snow fall?
Https://www.youtube.com/watch?v=aLMyO5O0v3E
Very Mild and very kindly mannered...
Who knows you, is just as important as who know you...
188star, I take umbrage with your lie point.
Gas Gathering system is designed for (guess what?) gathering gas at very high pressures.
Previously COPL were having to flare gas like there was no tomorrow....
The $4.5 million GGS investment , is now coping with two things: all the gas that was previously burnt ($$$$,) is now being gathered and reinjected (lovely right$) Hear this extra bit...COPL have have the funding in place to consistently ramp up the pressure out to end of Q1 2024, unhedged btw.
The "truth" of the matter is, WYOG site not only give details on oil production, but Flaring rates and Injection rates.
Fracking is a known technology, (Naughtygeordie has posted some excellent data on Fracking and waxing technologies, this is not rocket science. I think NG stated that Waxing has been perfected in Brazil..)
Joking aside, The "science" tells us that by increasing pressure , more oil can be produced from COPL existing P2 reserves.
WYOG figures state fact. Another fact is the fracking "time lag" widely regarded as between 4-6 weeks
Bladdermans thread is an interesting one to pursue..after all-- this fighting is about something shirley??