Post by
drunk@noon on May 01, 2024 9:55pm
of course it's puzzling, Billfox. The company claims
unconstrained the field can produce 23,000 bopd. Yet they can't even do 18,000. If you look at the long term production presentation, they always have the next year ramping up to 20,000 plus, then every year they guide for 17,500 and they readjust their long term chart. The NPV they give for the field has production ramping up thousand more then current 17,500. How is this going to happen, given they drill 3 wells a year. I wonder if the decline rate is higher than they thought. Something's up. I am looking for an answer, not a mindless cheerleading response. In the future zip it.
Comment by
billfox54 on May 03, 2024 11:04am
According to page 28 of their March presentation, the field infrastructure capacity is 24,000 bbls per day. Their production estimates have never been anywhere near that. That same presentation shows 2024 estimates of 16,500 to 17,500 bopd. March and April production rates have both been over 18,000 bopd, so it looks like under-promising. Best of luck. Bill