Replies to This Discussion

Permalink Reply by Joe Aldridge on February 11, 2013 at 17:00

Keith,

My concern now is that they try to over produce the well and get a high IP for PR purposes. The Chalk can collapse on the well bore and strangle it unless its supported with a gravel/sand pack to hold the formation open. That is not in their plan as far as I can read. Any production over  1000 bbls a day risks a collapse. I think we saw a formation collapse in one of the Anadarko wells drilled last year. At least that was the rumor that was going around in the neighborhood. 

I wish them all the luck in the world. Hope what they are doing works for them and the trend.

Permalink Reply by Keith on February 11, 2013 at 17:11

Joe, I've seen many operators pull their wells too hard and have problems in conventional wells in the GOM. I've even seen this with large operators that didn't need the PR or the production during times when commodity prices were real cheap. I don't know what it is about producers. I've seen a companies drilling group use best industry practices to drill and complete a well just to have the production group ruin the well in the first month of production. I guess we'll see if they will be prudent or foolish.

In the TMS it appears to me that EOG is being prudent on their first well in Avoyelles, hopefully Pryme will follow suit in the chalk. Anadarko might want to pay attention if Pryme does as well as we hope they will.

Permalink Reply by david crocket on February 13, 2013 at 2:05

This is the latest from Pryme's website.  It is a 3 minute 37 broadcast from Pryme.

Projects

Latest News

13-Feb-2013 BRR Broadcast

Permalink Reply by david crocket on February 18, 2013 at 11:05

Pryme has successfully installed the 4,480 foot long pre-perforated production liner in Rosewood Plantation 21H No.1 well.  See Pryme website for full story

Permalink Reply by Frankie Elder on February 27, 2013 at 6:21

completion rig onsite

Permalink Reply by david crocket on March 5, 2013 at 2:13

Hope we get good news

Pryme Energy to reveal flow tests from Louisiana based well

Tuesday, March 05, 2013 by John Phillips

Pryme Energy (ASX: PYM) is preparing to announce flow test results from the Rosewood 21H No.1 well at the company's Turner Bayou project, with the ASX granting the company a trading halt this morning.

Turner Bayou comprises around 80 square miles (50,000 acres), which have been imaged by a proprietary 3D seismic survey, and is located in Louisiana.

Pryme has a 40% working interest in 25,029 acres (10,011 net acres) in the Turner Bayou project and is initially targeting development of the Austin Chalk horizon.

In addition to the Austin Chalk potential of the Turner Bayou project area, exploration drilling within Pryme’s Turner Bayou leases has intersected the Wilcox and Midway Shale intervals above the Austin Chalk and the Tuscaloosa Marine Shale (TMS) below the Austin Chalk.

The TMS is analogous to the prolific Eagle Ford Shale in South Texas.

Pryme recently raised $1.0 million through a private placement which was strongly supported by major shareholders and new strategic investors. This increased the company's cash position to over $3 million.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 7th March 2013.

 

Permalink Reply by Joe Aldridge on March 5, 2013 at 2:49

DC,

I may or may not be correct but the trading halt only applies to the ASX exchange. The shares listed on the American exchange are not under the halt order. At least that is my take.

Permalink Reply by Joe Aldridge on March 5, 2013 at 2:54

DC,

My concern now is that they over produce the well to get a high IP. They have not done any work in the well to stabilize the formation. This could be a problem. If the well is over produced then the formation could collapse on the well bore and choke it off. Just don't understand why they won't take the next step and Gravel/Sand pack the well. 

Permalink Reply by William C. Morrison on March 5, 2013 at 2:57

I hear ya.  We need success in the Austin Chalk.  Sure hope they do not screw this up too.  If they get it going good then Anadarko, etal will listen up and do much the same.  Hoping for the best results.

Permalink Reply by david crocket on March 5, 2013 at 2:59

Hope the well stays stable at all costs.  We can't afford any bad news.  Maybe they won't try to overproduce just for the high IP.  I know that we like to see that but not at the cost of the well collapsing. 

Permalink Reply by Craig Wascom on March 6, 2013 at 12:00

Rosewood Plantation 21H No.1 Flow Test Result

Turner Bayou Chalk Project

HIGHLIGHTS

1,040 Bbls of oil and 1,850 Mcf per day achieved

The well continues to clean up unloading drilling fluids

Production facilities construction underway

The flow back operation on the Rosewood Plantation 21H No.1 well has been underway since Monday night (Brisbane, Australia time) with the well achieving a maximum production rate of 1,040 barrels of oil and 1,850 Mcf per day on a 15/64 choke. Flow rates averaged 780 barrels of oil and 1,700 Mcf per day in the following twelve hours with less than a 15% water cut. The well is still unloading drilling fluids and mud and continues to clean up. Once the clean-up process has been completed and the well is turned to the sales line we will be able to establish a long term production rate from the well.

The construction of production facilities will begin next week and it is planned to have first sales turned through this facility by the end of this month. Oil produced and ready for sales has totalled over 1,100 barrels gross (506 barrels net to Pryme) to date and natural gas is being flared before being connected to the existing gas sales line later this month.

"The drilling of this well has been an anxious time for Pryme’s management team and shareholders and I am sure the result speaks for itself," said Justin Pettett, Pryme’s Managing Director. "We look forward to the further development of the project in the coming months."

Permalink Reply by John Matherne on March 6, 2013 at 12:08

Pyrme my lease with Anadarko is up at the end of 2013. Very near Lacour 43!

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