06-08-2014, 03:03 AM
["The only sensible reason for the delay on the update for Wahoo is that there is strong evidence of hydrocarbons that make him think this is a viable discovery, but they are overwhelmed with problems e.g., well control and hole stability. He doesn't want to lose the well and report out that there was a big HC zone but he lost the well. So he's in a lose / lose situation on reporting. He will stretch it out as long as he thinks they can save the well and as long as he is convinced there is a discovery."]
While losing a well certainly is a setback, if there are hydrocarbons I would say the positive (a new discovery) could easily outweigh the negative (the cost of drilling and efforts to control the well, the time lost). Plug the well and drill another one, or is that too simple?
While losing a well certainly is a setback, if there are hydrocarbons I would say the positive (a new discovery) could easily outweigh the negative (the cost of drilling and efforts to control the well, the time lost). Plug the well and drill another one, or is that too simple?