GREY:STPJF - Post by User
Comment by
ShatnersRugon Jul 22, 2014 8:24am
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Post# 22768580
RE:ICD history
RE:ICD history
Months ago I researched this in depth. In a nutshell, when installed on wells that are already performing at or near nameplate, ICDs were shown to increase production anywhere from 5 to 20 percent depending on the source referenced. SOR improved across the board in all tests as well. With respect to STP, because the wells were so poorly thought out, it's tough to say how much of an improvement we'll see. Pad 1 seems to be toast with or without ICDs. Pad 2 showed improvement for a while, then the hiccup and continued blackout. Nike is correct when he mentions a September timeframe for any real news. It'll all boil down to the performance of the wells on pad 2 that have been fitted with ICDs. McKay produced 2140 barrels in May. The September NR will provide us July numbers. This should give Joe Retailer a pretty clear indication as to whether STP can survive in its present state. If production only marginally improves and the is no additional cash injection(sale or JV), it's likely that STP's many parts will be broken up and sold off. Only God f***ing knows why Senlac capex has been frozen. If no dealfor Senlac materializes........ it won't be good. What do you suppose management is doing with all that cash they secured in March? Again, only God f***ing knows. To sit on 10's of millions of dollars for 4 months is LUDICROUS. If they sit on it for another 4 months as suggested by some(potential end to strategic review), well...... they'll make the guys at Connacher look like brain surgeons.