GREY:CXEYF - Post by User
Comment by
CalifDreamingon Dec 21, 2007 2:21pm
382 Views
Post# 14113692
RE: Drilling Question
RE: Drilling Question"...porosity and hydrocarbon saturations are the BEST seen in the field to date..."
Porosity will help the injection scheme by allowing gas to flow throughout the reservoir, enhancing overall effectiveness of the pressure maintenance.
I think they are impling the hydrocarbon saturations indicate that there will be recoverable Nat Gas liquids. I suspect it will allow the reserve auditor to include NGLs in the reserve statement (which haven't been included to date - CAX suggests another 1MM bbls NGLs - a significant reserve addition).
With higher porosity, should allow for increased reserve recovery factors to be applied to the entire field.
EBB-3 should be the fastest well drilled - just have to sidetrack farther up the existing casing - eliminates all the vertical drilling - probably take about two weeks to do if things go well.
$90+ Brent will be a shot in the arm for CAX. Will make them a fat and happy producer. With such huge margins, El B oil is worth 2-3x most other producer's production. So instead of thinking of 4,000 bpd, think of 8-12,000 bpd...