Alright, fellow sufferers--this is about all I know. I'll try not to make it more than I know. We've all been guilty of that in the past, I think. Anyway, as always there's still pain. And as usual we're facing the possibility of relief. Again!
#4 Testing still expected within about a week, but don't be surprised to see that drag into two.
#9 About a month left here. Are past the 20,000 ft. level
Aera well--about 2 months to go. As operator Aera is getting getting excellent reviews. The sidetrack is updip NW and mud logs show it hitting 400, possibly 800 ft higher than original hole. No predicting results, of course, but PYR and partners are excited about this well as the higher they go, the better reservoir quality expected, and the water may diminish or even disappear (updip). This well is being watched very closely, not the least of which include potential partners for PYR's Wedge prospect (a continuing structure). For you PYR investors, this is the prospect that they are the most excited about. They own it 100% and currently includes @15k acres.
Pyramid Power--yup, still a wildcat, at a depth of 15-16k ft. As for the best yea or nay guess on this one--it's up in the air.
Water disposal well--a festering, frustrating sore point with everyone, still. Foot dragging by APC? Who knows. But possibly beyond negotiations now and contract in attorney's hands, however not completely sure of this. Landowner is/was in strong position, knowing the group had little alternative but to deal with him/her/it. (Q. just occurred to me now--is this the surface rights owner we're dealing with in such a case or mineral rights--Anybody know?) However, it appears Aera and OXY have lately gotten involved and are exploring alternatives. Aera has some water capacity existing and this is expandable.
PYR investors--company is fully expecting to drill Bulldog and Cumberland (WY) this Spring. Are taking the process all the way through permits and siting and are only stopping short of contracting the rigs. So they should have a running start as soon as they ink a partner(s). These are $3mm wells we're talking, not $20mm as at ELH, so the barrier to entry is not as great and hence this shouldn't be just a "pipe" dream. |
