TSXV:CLAS.H - Post by User
Post by
willibrichon Aug 25, 2010 2:00pm
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Post# 17382489
How much oil will over 100 feet of pay give up
How much oil will over 100 feet of pay give upWell.............................no pun intended...it all depends.
Anyone can go to the internet and research variables which impact final flow rates from discovery oil wells.
However it may be usefull to take a look at surrounding wells from other companies.
On Sept. 28, 2009 Petrominerales, PMG, announced 10,000 bopd production of 30 degree API oil from 122 feet of pay in the lower Mirador,upper and lower Guadalupe formations from their Corcel A-2 well. This oil well is located about 35 km southeast of Quetzel's discovery well.
On March 26, 2010, PMG announced that their Candelilla - 3, well was producing 15,600 bopd of 43 degree API oil from 7 feet of perforations at the top of the Lower Sand 3 formation. Candelilla -3 is in the Guatiquia block which is about 60 km south of Quetzel
More recently , on August 23, 2010, Canocol Energy, CNE , reported 3302 bopd of 33 degree oil from 18 feet of pay in the Guadalupe formation of their RH-6 well in the Llanos basin. They had previously reported 3340 bopd from 48 feet of pay in the Ubaque formation of RH-6. ( August 16 press release ) There is one more formation to test in the RH-6 well. RH-6 is located about 80 km to the northeast of Quetzel.
One thing that we do know is that Quetzel's discovery well is located in formations which have demonstrated production of commercial grades of oil. The American Petroleum Institute ( API ) grades oil according to it's specific gravity. API 10 oil has a specific gravity of 1.........same as water. The higher the API grade, the lighter the oil, and thus generally more valuable. For example..West Texas crude has an API of around 40.
Quetzel's discovery well could yield anywhere from 300 to 500 bopd .to 15,000 to 20,000 bopd.
It all depends................ At this stage, speculation is really futile.