HDR hardman resources limited

HDR flow rates

  1. 151 Posts.
    Two articles on HDR - one why Mauritania play is exciting and the other what need to be confirmed (qty of recoverable oil) in the short term.
    An expectation of flow rates - a very optimistic scenario but has been reached elsewhere - over time -any poker players ??

    Regards,



    Key oil drilling programme starts in Mauritania
    By Ibrahima Sylla
    NOUAKCHOTT, July 31 (Reuters) - A key oil drilling programme has begun off Mauritania as the next step towards potentially pumping crude from beneath the northwest African country's waters and opening up a new oil province.
    Drilling began on Monday on the Chinguetti 4-2 well in Mauritania's block B, where a well sunk last year by the Woodside-operated venture suggested the presence of hundreds of millions of barrels of oil.
    "It is key in terms of confirming the economically viable accumulation. We do not yet know exactly the distribution of reserves," said Peter Dolan, chairman of Fusion Oil and Gas, a minority partner in the venture.
    The Chinguetti 4-2 well being sunk by drill ship "Deepwater Discovery" is 85 km (53 miles) off Nouakchott, the capital of largely desert Mauritania in a water depth of 815 metres (2,674 ft). The plan is to drill to 2,835 metres.
    Last year's Chinguetti-1 well raised a great deal of industry excitement, but was followed by the Courbine-1A well in Block B which failed to find commercial reserves.
    Four wells are planned in this year's drilling programme, including one on the Banda prospect in Block A, where a study on the basis of seismic data has suggested reserves of between 500 million and nearly one billion barrels.
    "It is the same type of prospect in fairly close proximity," Dolan told Reuters from London, comparing Banda with Chinguetti.
    Another well is planned on the Thon prospect in Block C.
    The main partners in Mauritania's Blocks A and B are the local units of Australia's Woodside and Italy's Agip , each of which has a 35 percent stake. Others are Hardman Resources , Fusion Oil and Gas and Roc Oil .
    Woodside has a 59.5 percent stake in Block C, Hardman 35.5 percent and Roc Oil the rest.
    Last year's Chinguetti find has spurred interest in the deepwater prospects of West Africa's bulge into the Atlantic.
    The coast stretching from the proven riches of the Gulf of Guinea has become a hunting ground for smaller firms willing to make more speculative bets than the majors that dominate oil giants Nigeria and Angola.
    The lure is the discovery of the next Equatorial Guinea -- a backwater that has gone from producing almost no oil a decade ago to pumping more than 200,000 barrels per day (bpd).
    Africa's search for more oil has been given an added boost by the U.S. need for secure supplies away from the turmoil of the Middle East or the transport problems from other hotspots like central Asia.

    Woodside in second discovery at Chinguetti
    By Matthew Jones
    Published: August 19 2002 12:06 | Last Updated: August 19 2002 12:06
    Woodside Petroleum, the Australian oil and gas group, on Monday said it was "encouraged" after striking oil for the second time in the Chinguetti prospect off the coast of Mauritania.
    The find, at the Chinguetti 4-2 well, has rekindled hopes that a new oil province could be opened in Mauritanian waters, extending the success of other parts of West Africa such as Equatorial Guinea.
    Analysts had called Woodside's exploration programme into question after it drilled a dry well in the much-hyped Courbine prospect last year. But Woodside said it now remained committed to testing the latest well in addition to appraising its original Chinguetti discovery.
    Fusion Oil and Gas, the Anglo-Australian exploration company that has a 6 per cent stake in the discovery, said the latest find was evidence that a new petroleum system existed.
    "This is starting to show the potential that there are many, many more discoveries in this region," said Alan Stein, Fusion chief executive.
    He added that further exploration was expected to take place in the next month at the Banda prospect, about 20km to the east of Chinguetti.
    Reserve figures for the Chinguetti find will not be known until testing is complete. But independently audited seismic surveys have indicated that there could be about 100m barrels of recoverable oil.
    Mr Stein said the field would have to contain at least 70m barrels of oil for it to be commercially viable.
    Woodside owns a 35 per cent stake in Chinguetti and is the the operator of the field. Other partners include Eni of Italy (35 per cent), Hardman Resources (21.6 per cent), Fusion (6 per cent) and Roc Oil (2.4 per cent).
    Woodside's shares closed up 16 cents at A$13.72 in Sydney while Fusion's shares rose 13.5 per cent in London to 52-1/2p.

 
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