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A7
#41

'Putncalls' pid='64733' dateline='1447802578'] The A7 decision hurts shareholders. Period. It helps Hessian, his club and Total. Total gets to delay CAPEX, Hessian and club keep their jobs. The shareholders only relief from this energy market was Total's payment and now they get screwed. We didn't need A6 or A7 to prove enough gas for two trains. Gettit is so dogmatic and his response so primitive he might as well join the IS. [/quote]

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...and his argument that waiting "4-6 months" longer will be worth it because the resource payment will be increased is filled with assumptions that many won't want to make.  What if it's 6-9 months? And what if A7 does not turn out how Hession predicts (i.e. Wahoo)?   

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#42

(11-18-2015, 05:48 AM)ArtM72 Wrote: Pet - Would you mind addressing my concern that soon we will have triangulated pressure tests in a very permeable formation and knowlege of the actual boundaries of that formation (eg specific fault locations) are of much lesser if not little consequence? Just how can pressure tests be of any value when adding a seventh well to a formation can resolve a 30% pressure testing error? Thx as always.


Art- As I have stated earlier I do not trust the accuracy of the pressure gages for such a small amount of gas produced. I guess they are not so interested in the actual pressure as they are the pressure change for a given amount of production. The pressure change at Antelope-5 was 0.061 psi at a depth of 1,644.6 meters drill depth and the pressure change at Antelope-1 was 0.08 psi no depth indicated. Based on the well bore diagram at http://tinyurl.com/ovhqeft  page 20 I believe the pressure gauges were set near the X landing nipple at about 2,347 meters drill depth. They set three gauges in each well. I would never suggest that anyone would manipulate anything to make the numbers come out like they wanted but it seems a little strange that they used the lower gauge at Antelope-5 and the “average” at Antelope-1. I would like to know what each of the three gauges showed in each well. That might give us a better idea about the accuracy of the gauges for such a small change in pressure. I would also have expected the larger pressure change to be at the producing well Antelope-5 instead of the “listening” well Antelope-1. With such small pressure changes and such a relatively small amount of gas produced we would also have to worry about the “exact” amount of gas produced for use in the calculation. As mentioned before the weight of the gas is about 0.075 psi/foot. One foot of gas weighs as much or more than the pressure change recorded. For this calculation to work on a very large reservoir we need a much larger volume of gas produced and a much larger pressure change so that it can be measured accurately. After we produce 10 or 20% of the gas and record the associated pressure drop then this method would give an accurate number.

What the connectivity test did do successfully is prove connectivity. This should be confirmed again with the up coming test with both Antelope-1 and Antelope-4 as listening wells. Proving connectivity removes a lot of “uncertainty” in the minds of the engineers making the reserve calculation. So the test is worthwhile just to prove connectivity. To run this test is not a big deal because I do not see how it could cost very much.

What is very important in the reserve determination is the Area of the Field, the thickness and amount (area-wise) of the high porosity limestone and dolomite and the porosity of this upper limestone and dolomite. In order to know the area of the field we need to know the location of the western fault. Since they have given us three choices of the location of the fault based on seismic it seems they can not tell exactly where it is located based on seismic and gravity surveys. The only sure way to find the fault is to keep drill to the west until we find it. Antelope-7 also may not locate the fault but it will determine whether or not we have the full reservoir thickness or if we have drilled through the fault. So not finding the fault would probably be the best outcome because that would mean the fault is still further west.

On another subject.... While looking at http://tinyurl.com/ovhqeft   I came across page 12 which brought back some fond memories. These samples are shown with descending depth from left to right. As you may be aware they are now using -2,214 meters sub sea for the gas/water contact. These DST’s were taken from the following depths:

DST No. 11 -2100 to -2149 meters sub sea 9.9 MMCFD with 149 BPD condensate or 15.1 Bbl/MMCFD
DST No. 12 -2125 to -2203 meters sub sea 2.6 MMCFD with 40.6 BPD condensate or 15.6 Bbl/MMCFD
DST No. 13 -2176 to -2203 meters sub sea No gas recorded but recovered a little oil.
DST No. 14 -2220 to -2253 meters sub sea 1.4 MMCFD with 23.8 BPD condensate or 17 Bbl/MMCFD

The lowest test is below what they are now calling the gas/water contact at  -2,214 meters sub sea.

Maybe Antelope-4 will confirm that the gas/water contact is lower than -2,214 meters sub sea. GLJ used      -2,228 meters sub sea for the gas/water contact. Maybe the logs in the good porosity (hopefully) at Antelope-4 will give us our best indication of the true gas/water contact so far.

Even though they recovered black oil on DST No. 14 the liquid/gas ratio was still pretty low (or the gas/oil ratio is pretty high at 59,000 cu.ft./Bbl) it looks like we will still have a "gas condensate" reservoir or a very thin oil column right above the water contact.
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#43

Today's PR, which focuses again on the "possibility" of A7, shows me that Hessian is confident A7 will be approved.  He gives out such minimal info that to mention a possibility twice would be very unlikely.  It is a done deal.  My theory as to why it hasn't been announced?  OSH switches camps on this once their appraisal program for the pmt to Civelli & friends is set to conclude before A7 results are in.


And Pet, many, many thanks.
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#44
Not sure if OSH has much overall influence on this or whether TOTAL would do something to help Botten out much. OSH "strained" the relationship with Total with the arbitration circus and to Total they might say it's "too bad" if they announce A7 and it affects their Certification.

Plus in the SPA it says that the SPA parties will do their best to pursuade other parties subject to the revisec PRL 15 JVOA to be in favor of additional appraisal wells and if they balk, Total and IOC may proceed in an Exclusive Operation leaving non-consenting parties out. This is pretty standard or a JVOA agreement.

Sorry if this makes you pay more Pete, but.............
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#45

'Palm' pid='64746' datel Wrote:Not sure if OSH has much overall influence on this or whether TOTAL would do something to help Botten out much. OSH "strained" the relationship with Total with the arbitration circus and to Total they might say it's "too bad" if they announce A7 and it affects their Certification. Plus in the SPA it says that the SPA parties will do their best to pursuade other parties subject to the revisec PRL 15 JVOA to be in favor of additional appraisal wells and if they balk, Total and IOC may proceed in an Exclusive Operation leaving non-consenting parties out. This is pretty standard or a JVOA agreement. Sorry if this makes you pay more Pete, but.............

I see the language of the Exclusive Operation on p.20 of the SPA, but it (arguably) is limited by 6.1(b)

provided that such additional well(s) shall not adversely affect  the parties' objective to reach FID in the shortest practicable timeframeI
I don't think OSH is asking them to delay long, & I think you agree that A7 will be announced soon.
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#46
Of course the wording of the day is, "shortest practicable timeframe". That only means what the attorneys want it to mean, and if FID happens 6 months later than planned because Ant 7 is considered necessary, then FID is practicable after Ant 7 (8, 9,.....).

I agree that with what the wireline is showing at Ant 4 and with what Pet is saying, Ant 7 is much more likely now. FID will happen when it's reasonable/realistic/feasible/possible/viable/workable/doable.
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#47

If y'all noticed, TOTAL's LNG sales in 2015 have been measurably lower than last year ... WHY?? Because the plant in Yemen has been shut (and will remain so) for a long time to come. AND, their chances for bringing Yamal on-stream on schedule is nil.

What to do; OY what to do?

OOOOO .... OOOO ... said Monsieur Pouyanne:

We can duplicate the Yemen design and save lots of time.

Let's build 4 LNG Trains in PNG all at once.

Each Yemen Train is 3.35 tons per annum nameplate capacity.

We can get them up and running in 4 years!

We can reach FID immediately because we can get a Lump Sum Turnkey Bid from Technip.

We have customers who already want more LNG from us, so we will sell it all.

All we have to do is prove up 12 tcf of gas in E/A ... Get me 12 tcf.  DRILL A-7 NOOS

So what if we have to pay IOC $3 Billion on certification!

Drivel Maven with Personality
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#48

'Stavros' pid='64756' datel Wrote:

If y'all noticed, TOTAL's LNG sales in 2015 have been measurably lower than last year ... WHY?? Because the plant in Yemen has been shut (and will remain so) for a long time to come. AND, their chances for bringing Yamal on-stream on schedule is nil.

What to do; OY what to do?

OOOOO .... OOOO ... said Monsieur Pouyanne:

We can duplicate the Yemen design and save lots of time.

Let's build 4 LNG Trains in PNG all at once.

Each Yemen Train is 3.35 tons per annum nameplate capacity.

We can get them up and running in 4 years!

We can reach FID immediately because we can get a Lump Sum Turnkey Bid from Technip.

We have customers who already want more LNG from us, so we will sell it all.

All we have to do is prove up 12 tcf of gas in E/A ... Get me 12 tcf.  DRILL A-7 NOOS

So what if we have to pay IOC $3 Billion on certification!

Nice Stav, very nice.

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#49
Remember Spartina ... JFT's mentor Henry Aldorf already certified E/A for "well" over 12 tfc.
The Asian gas/LNG industry take his inputs and judgments as gospel.
They don't call Hammerin' Hank "The Amsterdam Oracle" without a reason.
Drivel Maven with Personality
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#50
CAC Show this PostThe contents of this message are hidden because CAC is on your ignore list.!,
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