Southern Pacific Resource Corp STPJF

ICD history

[bambus]

Is there any history of a company/companies that decided to use ICDs and therefore increased production; and if yes, by how much the production was increased?

Thanks, having hard time finding that info

 

Bambus

[ShatnersRug]

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

[nikehercules]

About McKay July numbers - they might be all over the place since multiple wells on Pad 2 will be going down and then back online. It takes 14 days to cool off  a well and about 10 days to install an ICD. It also sounded like all wells on both pads were getting ICD's according to my call with Greg Foofat. Foofat also mentioned that STP may or may not include July numbers in the September

[ShatnersRug]

Point taken wrt pad 2. Hopefully the NR will disclose August numbers then. IMO, no more ICDs will be installed on pad1 until pad 2 is completely fitted. On a related note, Sunshine Oil just made the following deal: [url=https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aSUO-2195473&symbol=SUO®ion=C]https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aSUO-2195473&symbol=SUO®ion

[oilcansam]

Can anyone confirm the number of shut in wells on pad 1. I understand that 2 are shut in. They have been for a long time. 

[deduction]

1P2 shut in Oct 2013 1P4 shut in Nov 2013

[ShatnersRug]

https://s18.postimg.org/fu7xkchu1/Page_1_pad_101.jpg This shows that a 3rd well was shut-in around summer 2013. Or am I reading this graph incorrectly? Inconsequential, however. Moving forward, the focus should be on pad 2's production post ICD-install. Hopefully the September NR will include August's numbers. Nothing much else to do but wait it out. On a positive note, price of oil

[Eyeinvestor]

I don't know about that graph but the only wells shut in were 1p2 and 1p4 as at end May. 1p2 is quite an interesting well because this was the well that responded to HSS and briefly produced approx. 200 bb/d in and around August/ Sept but then had a mishap and got shut down in October. I cannot remember hearing an explanation but I suspect this was the same problem of uneven conformance. This

[monzie]

Eye the answer is yes 1P2 will most likely get an ICD installed as will 2P2- as they stated this intention in their 2014 annual performance presentation to the AER a couple of months ago.  https://www.aer.ca/documents/oilsands/insitu-presentations/2014AthabascaSouthernPacificMckaySAGD11461.pdf

[Eyeinvestor]

Yes good spot. If the well previously did 200 bb/d, there is obviously potential for the well to exceed 200bb/d with ICDs. Spending $1 million for 200-300 bbd is obviously an attractive return on investment so it would be okay to do this. I wish they could spend $10 million for 3,000 bb/d! But the biggest ROCE is new wells with conservative layout and engineering + pre-installed ICDs producing

[koxamitny]

I too believe that the reason the the strategic review has not ended is negotiations are on-going with someone. The installation of ICD's is an exercise in proving viability to whomever is interested. Full blown expenditures on ICD's, a new pad to replace #1 or Senlac would probably not provide any return on investment to shareholders if the company is going to be sold. If a sale is not in

[bambus]

I am just wondering, could Strategic Review be just a fake cover to buy the company more time....mean while they are hoping ICDs will boost the production... Also, is there a way to find out how much specifically the wells with ICDs are producing...I know wells have to be down for ICD installation, but we seem to have couple with ICDs in place for a while now... what numbers they are getting out

[nikehercules]

Head over to the STP drop email: username - [e-mail] password - 123bigdukesix Deduction has posted some graphs there for May production broken out by individual well pairs. Perhaps he could also post the raw excel files as well for June? That would be greatly appreciated. Bambus - If I was a betting man, and I am, I'd say your feeling is correct - no deal. Take a look at

[Pandora]

BOGOTA, July 23 (Reuters) - Colombia's state oil company Ecopetrol will not adopt Pacific Rubiales Energy Corp's STAR technology to extract heavy crude more efficiently, Ecopetrol said in a regulatory filing on Wednesday. STAR, which stands for Synchronized Thermal Additional Recovery, is designed to increase the recovery of crude by heating the oil inside the well, bolstering output.