I find it truly amazing that in 3 weeks of “drilling” since spud (22 days) they have only gone 294m. That averages to only 13m per DAY.
Weekly report 1 (21 July) states they are 85m below RT with forward ops being to drill out conductor shoe and drill 12¼” through to 300m RT
Weekly report 2 (28 July) states they have drilled through to 294m RT with the casing run. Forward ops were to cement casing prior to routine rig maintenance including mud tanks, pumps and top drive then nipple up BOP.
Weekly report 3 (Today) states they have cemented the casing and are still undertaking maintenance. 200m of casing cemented in a week – well done boys! Now they still have more rig maintenance and are still yet to nipple up and test the BOP – what happened last week? Seriously – how much maintenance can a rig need after only a couple of days of drilling? I start to get nervous when things take much longer than expected.
I know that this is a fixed price drill but seriously people – PULL YOUR FINGERS OUT!
I did laugh however at the bit where the remaining hole should only take 2-3 days to complete! – Please correct me if my expectations seem a little hasty but something doesn’t add up where 3 weeks since spud we have drilled 300m with no official delays? I would have though KEY would be keen to get results ASAP to capitalise on the time available to follow up with the next wells should this one come in good.
Thoughts anyone?
KEY Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held