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Samson Oil & Gas Limited Message Board

  • mdx71 mdx71 Nov 2, 2013 4:33 AM Flag

    Can someone explain the lost pipe in the Billabong well?

    I not an oil guy so I don't quite understand how it happened. So they somehow lost a pipe while they were drilling and have been trying to dig it out for a month or so? How does that happen?

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    • First there are multiple pipes in the drilling operation, the surface casing is 9 5/8", Production casing is 7" and the production liner is 6". After the Billabong Vertical ( 9 5/8*) is drilled the casing is set (Cemented) to ready the production lateral (takes about 24 hours to dry (set) they tried a new process with a yahoo shop while drilling the production lateral and setting the liner. During the cementing of the liner there was a stoppage for about an hour and half and the production pipe got stuck with the liner blocking the liner and prohibiting a producing well. The 7' production pipe has to be separated and removed piece by piece.

      Sentiment: Buy

    • mdx71, this is from one of Samson's advisories on the Billibong. You can click on headlines, upper right, on this page, to stay abreast with Samson news and advisories . They also they have a web site where you can stay up to date. GL Later....iffy

      "Following the completion of the lateral to its planned total depth of 17,613 feet, a 4 ½ inch production liner was run and cemented. During the cementing operation, the cement contractor’s pumping equipment broke down for a period of time, which resulted in the drill pipe being used to run the liner becoming stuck. The drill string was backed off at a free point of 8,972 feet and recovered, leaving 1,800 feet of drill pipe cemented in the hole. Fishing operations to retrieve the drill pipe are proceeding. While those operations are currently utilizing the Frontier 24 drilling rig, that rig is expected to be mobilized early next week to the Tofte 2 pad in preparation to drill the Tooheys well. From that point, fishing operations for any drill pipe left in the Billabong wellbore will utilize a work over rig, which is more cost effective than the drilling rig."

      • 3 Replies to lfyoung59
      • Thanks zoom and lfyoung.

      • horizon82@rocketmail.com horizon82 Nov 2, 2013 3:41 PM Flag

        Iffy, Andy..what is the Rig doing after Tooheys ?...heading to Rainbow or drill the three forks ?

        Sentiment: Strong Buy

      • andymaxwell@prodigy.net andymaxwell Nov 2, 2013 11:16 AM Flag

        jmo but the billabong bakken monster workover operations can wait until the frontier rig has taken a break from drilling/fracking operations on the remaining nsy in fill bakken/3 forks wells. billabong production reserve value will be there when Samson/slawson want to complete it. figuring in samson's nri future reserve value on billabong at today's crude sales price is around $20,000,000 for just 10 years (could produce for 30 years)even with depletion taken into account. that leaves 13 more nsy in-fill bakken/3-forks wells possibly averaging $12,000,000 future reserve value each and 16 rainbow bakken/3-forks wells to be drilled fracked and completed for additional future value (ssn ave 50% wi) plus south prairie prospect wells potential and hawk springs prospect wells potential. do the math on Samson share price taking total potential reserve value into account should tmb want to shop this company around for a sale. just a note but I have been receiving 2 or 3 solicitation proposals every month for several years from mineral/royalty acquistion companies for my royalties on producing properties that have been producing for over 30 years - those offers are for cash payouts that cover a premium on future value for today's crude price. who knows how to calculate revenues and crude prices 10 - 20 years down the road - but that's the long term acquisition bidness. so my point is hang in there Samson shareholders and good luck...

        Sentiment: Strong Buy

 
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