Post by
JeffreyS on Aug 21, 2022 4:00pm
Discrepancy in Oil Production (MOST Important!!!)
If oil production is only 105 barrels of oil per day, it shows a serious discrepancy with what is mentioned on the Acceleware website.
According to https://www.acceleware.com/technology/bite-sized-capabilities.html a $20 million pilot well should generate 750 barrels of oil per day.
The current pilot well is only generating perhaps 105 barrels per day. One would hope that daily production would increase with more time heating the wellsite. However, According to earlier Acceleware statements they are only expecting between $1 million and $3 million in oil revenue in the first 6 months of the pilot project. If a $20 million investment really did generate 750 barrels of oil per day in production that would be 273,500 barrels of oil per year or about $27 million in gross oil revenues per year. There is no indication that production is any where near what has been described. Does anyone have any thoughts about this issue?