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Valeura Energy Inc. T.VLE

Alternate Symbol(s):  VLERF

Valeura Energy Inc. is a Canada-based upstream oil and gas company engaged in the production, development, and exploration of petroleum and natural gas in the Gulf of Thailand and onshore Turkey. It is also pursuing inorganic growth in Southeast Asia. It holds an operating working interest in four shallow water offshore licenses in the Gulf of Thailand, which include G10/48 (Wassana field), B5/27 (Jasmine and Ban Yen fields), G1/48 (Manora field), G11/48 (Nong Yao field). It holds a 100% operating interest in license B5/27 containing the producing Jasmine and Ban Yen oil fields. It holds an operated 70% working interest in license G1/48 containing the Manora oil field, which produces approximately 3,200 barrels per day (bbls/d) of medium-weight sweet crude oil. It also has an operating interest in 0.407 million gross acres of prospective rights in the Thrace basin of northwest Turkey. It holds interests ranging from 63% through 100% in various leases and licenses in the Thrace basin.


TSX:VLE - Post by User

Bullboard Posts
Post by Sj40mfon Oct 26, 2019 2:12pm
355 Views
Post# 30272966

Commingled vertical completions

Commingled vertical completions I believe a lot of people missed this in the most recent news release, as they have consistently left it out as an exploration option. As there is no way a 30 day IP rate will be as sexy as a Hz drilled in the best zone. But verticles won't bypass marginal zones and the deepest zones, that would never be added to reserves/produced if u just hit the best couple zones with horizontals above 4,000 feet.

When I saw the surprise plan of test #2, I was pretty sure equinor was testing this idea of vertical development. Which, long term(30+ years), would fully develop the entire plays 1,500m+ column of sands. VLE is/was looking for high impact numbers from some Hz wells to sell out... 

Test #2 was a small frack in a poor zone of reservoir, yet, yielded more gas per ton of proppant. IF a full size frac on average of less than ideal reservoir could yield an IP30 of 300 mcf, that would be good, especially if you can do 10-15 of these. And, if you can find 3-5 zones like test #1 with a full frac without sanding off issues, and an average IP30 of 600 mcf. There is room for 25 or more frac over the entire column. Whether 25 zones to bother with exist is a different story... but you can see with some napkin math, that an IP30 of 4.0-6.0 mmcfpd might not be hard to achieve, and they very well could figure out a better frac design for going vertical/thicker zones.

With owned equipment, and easy drilling like dev 1, cheap turkish labor, directional pad drilling(12-16 wells) and minimal connection costs, they should be able to do wells down to 5,000 meters and fracked for 5m

Getting to the bottom of the formation is now important, and I bet VLE and Sean wish they would have put a new bit on and sent it back down the hole and kept drilling at Dev. Short sighted, and shows they absolutely didnt care about the zones below test 1 because they didnt matter for Hz plans.
Bullboard Posts