viper,
The acid job was completed yesterday afternoon and the well was left shut in until 23:00 last evening. The flow test started at that time when they cracked it open showing very little flare (~1 MMCF/d) for the 1st hour. By about 00:30 I estimate they were making ~2.5 MMCF/d. I did not stay much after that as it is my opinion that they are NOT going to show us any more than that. [If Apache is confident that they know the approximate well productive capacity (and they should now), they have no need to produce at any higher rates. They can conduct their "limits test" at low rate and hence they don't need to "show us their goods"].
IMHO, The above referenced rates mean ABSOLUTELY NOTHING in terms of this well's capability. This is simply a case of Apache saying "What you see is NOT what I've got!!".
WE HAVE THE GOODS HERE. Accordingly, this morning I picked up a trading position in a "sister". Yesterday, prior to the close, I added to my TKE long term holding in anticipation of positive results from the acid job (and also of a successful Meekwap followup). Today, I'm glad I did.
Crown land sales are every 2 weeks. Results are made public the day after the sale. BUT, Industry deals are done "daily"!!
RE: "Do you expect further acid stimulation after this test?"
I can't say for sure but I do not think there will be any more near term. And, until the pressure recorders are retrieved from the bottom of the well and the pressure data is analyzed, Apache can't say either [unless they already know the productivity is much higher than the rate at which they plan to produce the zone. In that case they could today say no more acid work until our productivity drops below our desired production rate in say 3 or 4 years (example only!!)].
Question: After Apache completes the test of the Swan Hills(???), will they set a retrievable bridge plug and move up hole to test one or more of the 4 shallow zones in this well???
A test on the "Glauc" for example could assist Apache in locating the next option well so as to at least provide them with a "bail zone" in the event that the Swan Hills (???) were to fail in the next well. Without a press release of some kind we will not know when they plan to test the shallow zones.
Later,
grayhairs
A TIP FOR YOU -- If in the future you may be travelling near Caroline, Alberta at 1:30 a.m. do not be doing 148 Km/hr in a 90 Km/hr zone. The cops in that area are not eating doughnuts at that time!!!!! :-( :-( :-( |
