Marathon CEO:
“In the Louisiana Austin Chalk, our first modern completion in the over-pressured Western Fairway of the play is on flowback and cleaning up. While it is far too early to draw conclusions, the well is demonstrating strong productivity with recent oil rates of 1,200 barrels of oil per day on a restricted choke and at a flowing wellhead pressure above 8,000 psi.
Gas/oil ratio, API gravity at around 49 degrees, and water/oil ratio are all consistent with our pre-drill expectations. Again, some encouraging early performance in contrast to some erroneous conclusions you may have seen drawn from state data featuring test rates in the first 72 hours of cleanup.
With the early results of the first well confirming our expectations on initial productivity, oil quality, as well as reservoir energy, we recently spud our second exploration well in the play. And we'll have results to discuss later this year, as we continue to integrate longer dated production with 3D seismic.”
Tags:
Thanks,DJ. Found this of some interest.
"Again, some encouraging early performance in contrast to some erroneous conclusions you may have seen drawn from state data featuring test rates in the first 72 hours of cleanup."
Makes me wonder if he was referring to this.
"Monday, February 3, 2020
"At these production rates, it's impossible to have positive economics at these DHC/CC costs."
That is a direct quote from the Feb. 3 edition of the Tuscaloosa Trend blog.
The first quote, "Again, some encouraging early performance in contrast to some erroneous conclusions you may have seen drawn from state data featuring test rates in the first 72 hours of cleanup." Is also from the blog on Feb. 12.
http://ameliaresources.com/blog/
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