RE:Appraisal well Good morning Frank, Yeah, one friend told me that geological modelling is the key. They have to get it right because you can really screw up an oil field by injecting water into the wrong places. The water might channel up into the oil creating permeability barriers if not done right.
So, it could well turn out that they may need more appraisal wells to confirm their model. Once they nail down the geological model, they can then design how best to produce it.
From Exxon: "Production on Liza Phase 2 began in February 11, 2022 and will produce up to 220,000 barrels of oil per day later in the year. The development is similar to that of Liza Phase 1 but with a total of six drill centers; 30 wells, including 15 oil producing wells, nine water injection wells and six gas injection wells."
So it's obvious from the above that fec/cgx will need a lot of money and a lot of expertise to produce oil. They have Mr. Durkee there. That's a great start because he's a completions/production expert. Plus they have Dr. Zoback to oversee the geological modelling. Looking great so far.