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+--- Thread: IR on Cement Job (/showthread.php?tid=9243)
IR on Cement Job - Putncalls - 10-20-2015
Hi ***
I am sure you are aware that Total is now the operator of PRL 15.
There is a level of care that must be taken when drilling into such a powerful reservoir as Antelope. Care must be taken to make sure the cement job is as good as possible before drilling ahead and that is exactly what the operator is doing. Cementing issues are not uncommon in drilling.
The focus by the JV (including Total) on PRL 15 with two rigs working is a good outcome. By these means a rig can mobilise to A-6 without having to wait for A-4 ST1.
RE: IR on Cement Job - Palm - 10-20-2015
I guess by osmosis we are to figure out that the plan has changed and Total is now Operator of the Ant4 S1. On July 31 IOC issued a PR which stated:
"Under the Operator Transition Agreement, InterOil on behalf of Total will drill the Antelope-4 sidetrack well, which is expected to begin drilling soon. Total will then operate the Antelope-6 well."
Silly us
RE: IR on Cement Job - jft310 - 10-20-2015
I prefer Tuskers version posted under Gator's update
"That's hilarious ... kind of like the porosity rate of dolomitized limestone surrounding the well stem jumping from 25% to 90%."
RE: IR on Cement Job - Getitrt2 - 10-21-2015
I do not find the IR statement confusing at all. The Ant 4 ST is apparently taking longer than planned and hoped, possibly because of the higher formation and extremely high porosity encountered, all very good in the final analysis, and also has an "extensive testing program" planned, per OSH. I feel sure IOC is still doing the actual drilling with its managers, crews, and support. However, Total is now officially and publicly the Operator of PRL 15, with its reputation at stake. I also feel sure they are overseeing the operation, with IOC consulting with them on all significant decisions, which also could be slowing the process to some extent.
The joint decision to assign another rig and move ahead with Ant 6 also contradicts imo the opinions of some that Total would probably do things to delay the appraisal process and certifications. Furthermore, since we have not heard of a final decision yet, the question of whether to drill an Ant 7 is apparently still an open question. Since Total agreed after the original Ant 4 well results to drill an extended side track at Ant 4 which may very well increase the resource certifications, that would contradict imo the opinions of some that Total would be opposed to an Ant 7 for that reason, although, of course, it remains to be seen whether that will be done. Given the latest actions, however, there would be still another rig that could be used for that.
RE: IR on Cement Job - Palm - 10-21-2015
Don't think that's what's going on. Subsequent to the PR I posted above IOC issued it's Q2 earnings. In that PR it states:
"In the past two weeks, Total of France has assumed operatorship of the PRL15 joint venture and the Elk-Antelope field, which is being developed as the Papua LNG Project."
My guess is the initial plan was for IOC to be Operator through Ant4 S1. However, when Total formally took over as Operator of "the PRL15 joint venture and the Elk-Antelope field...", that included seeing the rest of Ant4 ST1 through.
RE: IR on Cement Job - Getitrt2 - 10-21-2015
You could be right. However, at July 31 with it not yet spudded and the stated plan for IOC to drill it "on behalf of Total", I doubt that plan changed in the 13 days between then and the release, and even less time to the preparation, of the Q2 earnings report. Of course, I don't see that it matters much anyway, so that I don't intend to pursue it any further.
RE: IR on Cement Job - Relker - 10-21-2015
IOC and Total closed a transitional agreement but did not disclose the content. It would be great if someone asks what has been established during the quarterly Q&A.