RE: RE: Not good...but not a complete disaster... xammax:
"If they get similiar flow rates as the first well are we looking at about 480 BOED ? Anything above would be a bonus.
The first well produced 1000 boe over 1254 meters . To keep it simple say .80 boe per meter
If they got about 600 good meters from this well they would get 600 x .80 = 480 boe.
Could that be right or is the simple math assuming to much?"
Simple math doesn't quite work here. Usually, (as seen with CLT wells) longer wells produce a bit more than shorter ones. I'm hoping for 400BOE - 450BOE. This would give BBI a successful well, but not nearly what everyone was hoping for out of it. It will more than pay for itself over time.
Now we have to look towards the next well, and hopefully put any completion errors behind us. Learning from mistakes is costly, but I find when it costs you money the lesson is better learned. At least we know for a fact that our wells if completed right will be VERY good.
Good luck to all,
x