GREY:SGLRF - Post by User
Post by
qwqwon Apr 11, 2014 10:21pm
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Post# 22442829
Drilling
DrillingI've noticed a big difference in how div payers and non div payers go about drilling.
The div payers concentrate on infill drilling (drilling in a known pool) and very
little if any exploratory drilling.The non div payers do a lot more exploratory
drilling.The problem with infill drilling is it doesn't add much new reserves.
Like punching more straws into an orange,the total amount of juice
remains similar.
For 2013 Spy drilled 12.9 net wells.What % of those were exploratory?
less than 1% ???????????????
It comes as no big surprise that reserves found during 2013 (1.2 mmboe) did not
compensate for reserves extracted (5.5 mmboe).
Even if production #s are maintained, the reserves are not.
If the reserves are decreasing guess where the div money is
actually coming from?