TEX 0.00% 8.0¢ target energy limited

hwy-71 recoverable vs potential

  1. 381 Posts.
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    So I was wondering what we might get out of Hwy-71, and ran some numbers from the 20NOV09 AGM presentation.

    Target are claiming a total potential for Hwy-71 of 67.5 Bcf of gas and 1.1 MMbbls of condensate (pg 12). Given:

    1 boe = 6000 scf gas = 1 bbl condensate

    ... then I figure:

    (67.5 * 1e9 / 6000 = 11.25 MMboe gas) +
    (1.1e6 * 1 = 1.1 MMboe condensate) =
    12.25 MMboe gross, or 3.0625 MMboe net to TEX.

    Page 27 of the AGM presentation describes the Highway 71 potential *recoverable* volume net to TEX as 2.2662 MMboe. This indicates Target are estimating a 2.2662/3.0625 = 74% recovery for the field.

    Does anyone know if this is on par for similar fields in the area?

    And does anyone have an idea of potential flowrates? I seem to remember an analogue well's rates being posted a while back, but I can't find it.
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