Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on April 26, 2013 at 15:35

John, saw that permit earlier today and did not follow up as I was short on time and the depth looked marginal.  I'm out of town with limited access to the Internet.  Please compare the depth to nearby BD wells.  I remember it was a vertical well.

Permalink Reply by John D Cook on April 26, 2013 at 16:18

The Ankor well is within 2-3 miles of the Johnson, BML, and Dole wells.  TVD is very close to these 3 wells along with the Dean. Don't have my maps handy right now but this is probably the well that has been staked out south of the Beulah Baptist Church.

Permalink Reply by Skip Peel - Mineral Consultant on April 26, 2013 at 16:41

Either Ankor has data from SWN for their permitted depth or they made an assumption from the public data in the database. If the latter they are not giving themselves any wiggle room. Initial wells usually have permitted depths considerably deeper than the target formation, just in case. Their is no requirement to drill to the permitted depth but the state frowns upon operators drilling past their permitted depth. So much so that operators will stop drilling, idle their rig and submit an amended permit application. If Ankor is the previously alluded to JV partner I think that would be a disappointment.

Permalink Reply by tony allen on April 27, 2013 at 6:14

Why would that be a disappointment?

Permalink Reply by Two Dogs, Pirate on April 27, 2013 at 6:30

google them

Permalink Reply by Land Rat on April 27, 2013 at 8:06

? they have working interest in some great areas with some very well-known, well-capitalized, and efficient operators.  What does googling reveal that would lead you to believe this to be a disappointment?

Permalink Reply by North LA on April 27, 2013 at 8:48

The positives are what you mentioned. The negatives would be that they don't bring a lot of horizontal drilling expertise and their annual revenue is only around $2 billion so it doesn't look like they are going to invest more than maybe $100million up front(just a guess). Another positive is they will want resultS quickly and they are interested in gas as much as oil. One other major positive is that Ankor often teams up with Samsung on projects and Samsung has deep pockets.

Permalink Reply by North LA on April 27, 2013 at 9:47

correction: KNOC teams up with Samsung. Ankor is the joint company KNOC and Samsung formed together after they bought Taylor energy in the Gulf.

Permalink Reply by tony allen on April 27, 2013 at 10:44

I still don't understand the disappointment. There is money behind Ankor. As far as expertise goes, if Whiting and SWN can't figure it out,I don't think any horizontal player is going to bring in any more experience. Between SWN and Whiting the drilling and fracing experience includes the Marcellus,Fayettville,Bakken,Niobrara,Permian and more. I like the new money coming in and XTO/XOM  have large positions in the LSBD due to HBP and they are never a first mover. I am still waiting for an announcement but I hope Ankor is included. Hopefully, SWN will disclose their partner on Thursday.

Permalink Reply by Land Rat on April 27, 2013 at 11:16

I agree wholeheartedly.  SK is one of the fastest growing economies in Asia and they, like CNOOC, are keen to get in on the resource plays (shales, tar sands, etc) and the GOM.  Hydrocarbons are very expensive and scarce in that part of the world and putting them into the marketplace on one end can help offset the cost of taking them out of the market at the other.  Will be interesting to see if this ends up being their partner.

Permalink Reply by Two Dogs, Pirate on April 27, 2013 at 10:46

They don't come up on a google search. Nothing

Permalink Reply by Glenn Kadison on April 27, 2013 at 10:50

Check out the links at the bottom of the Wiki article.

http://en.wikipedia.org/wiki/Korea_National_Oil_Corporation

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