The SNE JV are currently scratching there heads and say
"what the hell, we didn't expect those fantastic well results"
Here what the Carin boys had to say between Oct 2015 and May 2016
Oct 15 First appraisal well SNE-2, is in the Sangomar Deep Offshore block, 3km north of the SNE-1 discovery, SNE-2 is a Crestal well in a central location in the heart of the field where it can be expected to encounter maximum hydrocarbon density. SNE-2 will spud Q4 2015 and will include coring and testing, taking six weeks to drill and core and further four weeks to test 14.
May 16 SNE 2 results
Crest of field location
Depth conversion confirmed – well on
prognosis
Sand quality and correlation confirmed
Upper and Lower reservoirs
Oil quality confirmed
Contacts confirmed
Excellent comprehensive log data
obtained
3 x 72 m cores 100% recovery over
whole reservoir
Well tests of 1,000 and 8,000 bopd –
Upper and Lower units
Drilling time and costs ahead of target
Results support upgraded resource
estimates
Then the second well
Oct 15 The second appraisal well SNE-3, on Southern Flank expected to begin late Q4 2015 / early Q1 2016. Well will test the southern extent of the field and will help to dictate the shape of the structure and define the aerial extension to the south. This is a key well to establish deliverability and the full potential of the field. SNE-3 will include both coring and testing, taking six weeks to drill and core and further four weeks to test.
May 16 SNE 3 results
DST 1a max 5,400 bopd
Main flow 4,000 bopd
15m interval
DST 1b combined max flow 5,200
bopd
Main flow 4,500 bopd
15 + 5.5m interval
Depth Conversion – 11m high (first indication that current depth conversion is incorrect).
2 x 72 m core 100% recovery
Oil Quality – 32° API
Contacts confirmed
Reservoir quality confirmed
Drilling time and costs ahead
of target
STOIIP increased
Resource impact under review
Similar oil-down-to and oil-up-to depths seen in SNE-1 and SNE-2 – 101m gross (95m in SNE-1 and 103m in SNE-2) This is the second indication that the depth conversion is so wrong in a nice way.
How big?
Then
Oct 15 The third appraisal well BEL-1, is on the Northern Flank and is expected to begin Q1 2016. This well has a significant Exploration target (Cenomanian “Buried Hill play”). This well will also test the northern extent of the field and will help to dictate the shape of the structure and define the aerial extension to the north. This is also a key well to establish deliverability and the full potential of the field. Gauges will likely be run in this well to allow future intra-field testing
April 16 BEL-1 Appraisal Target:
Confirms the extension of reservoirs in the northern area of the SNE field
Good quality reservoir sands encountered within the Upper Reservoirs
Good correlation and presence of the principal reservoir units between SNE-1, SNE-2, SNE-3 and BEL-1 over a distance of more than 9 kilometres (km)
Gas-Oil and Oil-Water depths indicate an oil column of ~100m gross at BEL-1 similar to SNE-1, SNE-1 and SNE-3. (This is the third indication that the depth conversion is wrong).
144m of continuous core taken across the entire oil reservoir interval with 100% recovery
Multiple samples of gas, oil and water recovered to the surface
Initial measurements show similar oil quality as seen in SNE-1, SNE-2 and SNE-3, with higher oil density towards the base of the column
The BEL-1 well targeted a shallower ‘buried hill” exploration play which is one of multiple exploration play types that have been identified across the block. The BEL-1 well exploration results confirm the presence of shallower regionally extensive reservoirs also encountered in the SNE-3 well more than 9 km away. These well results, along with the latest 3D seismic acquired in Q4 2015, will be incorporated into block wide remapping to look at possible new plays and down-dip oil potentially associated with the shallower reservoirs.
In light of the success of the ongoing appraisal programme, the JV has agreed that the Ocean Rig Athena will now drill SNE-4, located 5km south-east of the SNE-1 discovery well, to appraise the eastern extent of the field and aiming to confirm the nature of the upper reservoirs in the oil zone.
Cairn Energy PLC Chief Executive Simon Thomson said:
“The drilling programme in Senegal continues to provide positive evidence of the scale and extent of the SNE field.
The BEL-1 appraisal results have provided definitive information confirming the northern extent of the high quality reservoirs seen in the other wells and demonstrated an increased oil column in this area of the field.
What an understatement!
Then the last well SNE 4. There was no early discussion on what they expected to find.
May 16
Cairn is pleased to announce the results of the SNE-4 appraisal well offshore Senegal where operations have been safely and successfully completed following drilling, coring and logging. The well is now being plugged and abandoned.
The SNE-4 well was appraising the eastern extent of the SNE field discovered in 2014 and aiming to confirm the nature of the upper reservoirs in the oil zone.
Cairn’s analysis of the dataset collected is continuing with initial results as follows:
Confirms the extension of reservoirs in the eastern extent of the SNE field, more than 5 kilometres (km) to the east and down dip of SNE-3
Confirms oil bearing Upper Reservoir sands of similar quality to those encountered as gas bearing elsewhere in the field
The uppermost gas sands first encountered in SNE-3 and BEL-1 were also present and gas bearing in SNE-4
Confirms correlation and presence of the principal reservoir units between each of the wells across the whole field
A gross oil column of ~100 metres (m) encountered, similar to SNE-1, SNE-2, SNE-3 and BEL-1. Fourth and last indication that the depth mapping is so wrong.
108m of continuous core taken across the oil bearing reservoir interval with 100% recovery
Multiple samples of gas, oil and water recovered to surface
Initial indications confirm similar 32° API oil quality as seen across the field
Cairn Energy Chief Executive Simon Thomson said:
“We have now drilled four successful appraisal wells in Senegal and we are delighted with the results to date of the multi-well evaluation programme, which has confirmed the scale and potential of this world class asset.
Operations in Senegal have been safely conducted and are ahead of schedule and substantially under budget. We have gathered a very large volume of data from operations to date and we look forward to progressing our long-term, multi-field, multi-phase exploitation plan to maximise value in Senegal. We see clear potential to access additional cost savings from the current lower operating environment in respect of planned future activity.”
The SNE-4 well is the Joint Venture’s (JV) sixth well offshore Senegal and the fourth completed this year as part of a multi-well evaluation programme to help delineate the shape of the structure and establish deliverability and full potential of the field.
The Ocean Rig Athena will now be de-mobilised and the JV will continue integrating the significant amount of data collected from the four wells, including two drill stem tests and more than 600m of core. This will enable the JV to determine the most effective way to further the appraisal of this significant oil accumulation and evaluate development options.
The SNE-4 well, located in 942m water depth and approximately 85km offshore in the Sangomar Offshore block, reached the planned total depth (TD) of 2,944m below sea level (TVDSS).
and here is what FAR Cath Norman after SNE 4 results said
FAR Managing Director Cath Norman said:
“FAR is delighted with the result from the the SNE-4 well which has confirmed reservoir quality and oil in the upper reservoir section of the field. Our joint venture has now drilled 6 successful wells offshore Senegal with a 100% success rate.
“We are also very pleased with the overall Ocean Rig Athena drilling and evaluation operations which have come in significantly under planned schedule and budget. The Joint Venture is using the extensive data set acquired from the SNE appraisal wells to evaluate development options and determine the best approach for future appraisal drilling. The SNE-4 well will have gauges installed that, together with SNE-3 gauges, can be used to monitor oil field pressures.
“We anticipate completing a review of the SNE field contingent resources later in this quarter
including the results from the BEL-1 and SNE-4 wells and core data from the 2015/6 drilling program.
“We look forward to updating our shareholders as the evaluation of the SNE field progresses and
plans to resume drilling are finalised.”
So lets revisit that last comment from CE Simon Thomson and Far Cath Norman to see what is padding (which I have removed)
Here is Simon with out padding
“we are delighted with the results to date of the multi-well evaluation programme, which has confirmed the scale and potential of this world class asset."
and here is Cath without padding
“ SNE-4 well which has confirmed reservoir quality and oil in the upper reservoir section of the field.
There you have not one word in the last announcement from both JV senior management teams upon how the results of the planned 4 well appraisal program have been successful at delineating the size of the SNE field.
The four well program has just proved that the JV have no idea how large the field is as the gross oil intersection were so off the scale compared to predicted.
Meanwhile the silly punters are doing end of year tax selling, which is great as opportunities such as these are very rare.
You have five intersections (well penetrations) of the SNE field, enormous increase in known gross oil column and commercial DST flow rates...
(20min delay)