GREY:RNSFF - Post by User
Post by
Boots333on Jul 05, 2018 8:28pm
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Post# 28275577
Brief Update
Brief Update I spoke to Management
On Chincontepec - 12 wells are now complete. Approximately 11 days drilling time per well. Final pad is under construction. Should be done last two by the end of July.
Production varies from well to well, ranging from 30 BOPD to 250 BOPD, there are 8 on production, with other 4 in various stages on the path to production.
Pemex has been impressed with ROE’s performance on the production side and on the cost side. The service contracts have typically had service companies like Baker Hughes or Halliburton drilling the wells. These companies just drill and bill with virtually no cost control or timelines. As an E& P Company ROE is cost conscious and has greatly controlled both the cost and the time for drilling and this has impressed PEMEX.
Again, the Chincontepec wells are just a small part, the Upper Jurassic is the big part.