All those knowledgeable on drilling and all the potential discoveries and progress thus far, please provide your take on today's update and ER. Thanks
Thanks, Rob. Unfortunately, am not a paying subscriber to IV so couldn't see it.
I went back and listened to the call again today, paying special attention to this issue. In retrospect, I think I may have been wrong thinking JB was more keen on putting down a well at Queen Anne's Revenge. I think the next step will likely be determined by what they see when they get to the bottom of the current hole.
Guess I'll listen to what JB often says and will "stay tuned."
I don't think I've seen many comments on this board about the shallower development plan for ST 144 filed (link posted on IV board).. worst case spill in a drilling blowout would be 21,025 barrels of condensate w api gravity of 50 (borderline crude?)over 24 hrs.
That sounded like pretty good confirmation of condensate / crude to me, though this is the first development plan I've read so my interpretation is not useful.
So does anyone know if such plans are usually based on down hole data, or is it generic based on depth/pressure/temp?
Preferred, Ben240z, anyone else - can you help me out with this b/c I don't have the industry background you have:
if i look at slide 19 and slide 20 and think about what Jim Bob said on the call, i just can't help but wonder why the top priority isn't a side-track to test the down-dip wedge model on BBE. it seems to me that Jim Bob is more interested in drilling a well on Queen Anne's Revenge, but looking at the cartoon on slide 19 and the seismic on the same slide, the sands look to thicken down-dip and there appear to be corresponding bright shows.
again, i'm no petroleum engineer, but given the above, shouldn't JB be foaming at the mouth to sidetrack the BBE well after they get to target depth on the original hole?
any feedback is appreciated.
Thanks. Perhaps another Frio wedge before 34k! I do see something to that effect in the slides. Assuming the down-dip on the flanks happen, will this be a case of mainly oil or just mainly cheap gas yet again?
K2, is 1b BOE oil.
Glad you asked onlyDB--The depth scale is not provided for the seismic line on slide 19, but if one assumes the geologic cross section more or less corresponds to it, then the strong reflectors may represent the lower thin gas sands(depth of?), though that seems a stretch. Seems it would take thicker gas filled sands to cause such strong signals. The Wilcox may be topped by 34K', will have to wait to see. It may take 35K' to see much of it though where more events are.
Great posts Ben and Preferred! In addition to the Davy Jones #2, we need to focus on the deeper drilling results into the Wilcox in the BBE well. After all the waiting, the next few days could gap MMR, EXXI, and TISDZ. Hang on as steady prodding brings prosperity.
JB first stated a cautionary statement on how you can not go off of mud logs. After that he did admit that DJ#2 saw more sand than DJ#1. So you are comparing apples to apples which is fine. It would be nice to know if it was the same mud logger because everyone sees things a little differently. The sample are also send in to a lab to be looked at as well.
JB said he wanted to drill down to 27500 before tripping out to run drill pipe convaid wire line logs.(wire line tools attached to drill pipe take a little longer to log the hole because you have to trip in the hole with drill pipe but you get the data right away once you get down to the bottom) He said next week they should be logging and from the sound of it he will release the data shortly after that. They will probably also take fluid samples and sidewall cores so it will be multiple logging trips.
This is the best buying opportunity in awhile. Cheap shares and news with in a week or two that should rocket the stock past 20.
Great post Ben. Thank you. One note, if you listened to the Q&A JB specifically stated the mud logs in DJ2 has more sand than the mud log in DJ1. He also properly noted the lack of reliablity of mud logs vs. electiric logs
which will be out by the end of the month. What are your thoughts?