AOK 0.00% 0.3¢ australian oil company limited.

re: Ann: Drilling Success on Second Horizonta... 19 day from...

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  1. Dis
    3,741 Posts.
    re: Ann: Drilling Success on Second Horizonta... 19 day from spud to being ready for production testing is just insane.

    That is drilling 9300ft, doing a 20 stage frac, AND fitting the pump. Cost has come down also - now quoting $3.4Million. Somebody deserves their Xmas bonus. Do they even sleep?

    This means that these wells (assuming similar performance to other Range 2012 wells) are going to pay out over 9 months FROM SPUD. Ie the cash is back in the bank to rinse and repeat.


    Compare with RFE who are taking 6 months from SPUD to 30 day IP rates. They are then only producing at an average of 250 BOPD for their 30 day IP (vs 800+ for Balder 1). This means they are probably only achieving payback at about 18+ months from spud.

    This is not a critism of RFE - what they are doing is not far removed from others in the industry. But is just goes to show how good the boys at Range are.
 
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