Damn! The reservoir was supposed to be full of gas not oil.:D
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according to my simplistic back-of-envelope calculations, NZO's gross share of condensate from KS-6 and KS-8 alone (providing they are sustained) is worth 45c per annum.
If the K7 well comes in between the two, that will be around 15000 barrels/day of condensate,
i.e. 2250 for NZO. Not a bad addition to the TUI barrels.
Question1: what price do you assume for condensate, same as crude oil?
Question2: is there any significance to the fact that a smaller choke was used, i.e. at 1" the
well would produce even more?
I just came across this article from Crown minerals
http://www.crownminerals.govt.nz/cms...searchterm=lpg
“The plan would supply around 20PJ of sales gas a year together with condensate production commencing at 1.7 million barrels a year and LPG output at 45,000 tonnes a year.”
Condensate only needs to average 4658 barrels per day to get 1.7Mbarrel a year. So based on news of approx 10,000 barrels per day from the two wells Kupe is looking like a real winner, well and truly exceeding expectations?
Q1 condensate is worth a lot more than crude as less refining.
Q2 flow was too high for a 1" choke - pity not!
if K7 delivers more of the same, then standby for a reserves upgrade in a few months time.
nzo price is going up tomorrow on back of both the test flows k8/7 plus tui reaching 13 m barrels
- which side of 10c? -
the K6 test to come in on friday
look to the weather gods for a nice break of 2-3 days, so can shift the rig.
would an extra tug on the shift job enable a quicker shift? instead of relying on just the rig tender - me think so and could be money well spent - even if just holding rig in stable position for the critical leg up and down tasks.
would be a pity waiting for a week or 2 delay waiting for the weather window
M
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Latest numbers look good .....
I'm guesing they used a smaller choke because if they had used a full 1 inch choke the flow rate would have been much higher ...... maybe their gas flow meters would have been off the scale ??
And lots of condensate production, looks like Kupe is going to bring home the bacon !!
Looking forward to the final test and the summing up and interpretation.
Z
Thanks Zobra for your imput. But the final summing up of what this elephant looks like will only come once the results of Momoho are known.Another thing that has to be kept in mind is the JV's built the plant several times bigger than the last public stated size of KUPE. So the real question is will the figures equal this or exceed this size,as some expectation of greater flow will already be built into the SP.
Anyways as i write it is all doom and gloom as the price of oil has fell to 128-80. Anybe KUPE will have to be abandom at this price or do we hold in there until next week or two when it goes over 140 .