re: Ann: Malolos 1 Oil Bearing Sandstone Succ...
Some reassuring info for those that expected a gusher...
"While some wells contain enough pressure for oil to rise to the surface without stimulation, most don't, requiring artificial lift. In fact, 96% of the oil wells in the US require artificial lift from the very beginning."
"Even those wells that initially posses natural flow to the surface, that pressure depletes over time, and artificial lift is then required. Therefore, artificial lift is generally performed on all wells at some time during their production life.
"In the US, the majority of wells, 82%, employ a beam pump. Ten percent use gas lift, 4% use electric submersible pumps, and 2% use hydraulic pumps." http://www.rigzone.com/training/insight.asp?insight_id=315&c_id=4
GGX Price at posting:
3.2¢ Sentiment: None Disclosure: Held