RE:RE:RE:RE:WTI over $64oilman1111 wrote: JDavis17 wrote: VeritasVern wrote: JD the volume is so low I am wondering how or why manipulators are holding this price under 0.40.
The complete lack of buyers makes it easy.
I guess most potential investors were hoping our latest well would have been more like Kelt's, and not nearly so gassy? I am not disappointed with the well, but I had also hoped for better.
There`s no reason at all to be a bit disappointed regarding this 48 h flow test when the amount of frac water recovered is 12 % and flaring was limited. This well is already good and should be very similar to Kelt`s well when it has cleaned up more. Very good well.
Exactly...There's a reason the report mentioned the 12% frac water recovered....And also stated managements opinion that liquids & gas will increase........From the lips of Garth...
The 3-27-71-7W6 Upper Montney Delineation well was drilled to a total depth of 4,604 meters with a lateral of 2,200 meters and completed over 59 intervals using the STAGE System exclusively. Approximately 4,500 tonnes of sand was placed representing a completion intensity of approximately 2.0 tonnes per meter. Over the final 48 hours of production testing the well flowed at an average estimated sales rate of 1,188 boe/d (53% liquids, LGR of 190 bbls/mmcf) based on expected deep cut recoveries through future processing at the proposed Tidewater Facility. At the end of the test period the well had only recovered approximately 12% of load frac water. Based on previous results, management expects to see increasing condensate and liquids yields as the well cleans up to approximately 30-40% load frac water recovery. Flowing casing pressures increased steadily over the final test period to 7,289 kPa as choke sizes were reduced to limit natural gas production and stay within regulatory flaring restrictions. Management is very encouraged by this short-term test result and anticipates that liquid and natural gas rates could improve with longer production times and the installation of production tubing. The well will remain shut in until the proposed Tidewater Facility is operational, which is currently expected to occur in the second quarter of 2019.