Brent Oil Tops $60 for First Time Since 2015 Amid OPEC Optimism
By
Jessica Summers
October 27, 2017, 10:08 AM GMT+11 October 28, 2017, 6:32 AM GMT+11
- Saudi Arabia backs extension of output-cut deal beyond March
- Crude futures in New York rise to highest in seven months
Brent surged above $60 a barrel for the first time in more than two years amid enthusiasm that OPEC may extend its supply-restraint deal and indications that the situation between Iraq and the Kurds remains fragile.
This is just great news for all TEG holders as most know we are a profitable producer.
But the Brent at $60 plus that just takes us to another level.
Trust me please people will start looking at TEG now from a different angle.
Low cost profitable producer with growth on its hands and two Directors Towner and Bromley that are on an urgent mission to increase production through the Arrow.
This $60 plus Brent is a turning point for OIlers like us.
People that are thinking about dipping their Toes will start soaking soon in the Foot Spa.
Also throw in the Epsom salts.
Then with more news on the Xanadu and our own future OIl enhancement for own CH Block which seems to get very little discussion here and it should because do you think that that Xanadu find has just made the possibilities in our own block and opportunities available to us of which we own 80% a hell of a lot more attractive. We are already well and truly working on it. We are a step ahead.
Got Doubts?
So tell me up until know what has happened in our own block in the last 10 years as far as increasing production when we already know oil is there and being pumped? Nil...... Nada.
CH has made a mountain of cash or all the early developers and for years they just sat back and lived off the Fat. Put the feet up on the chair and kicked back.
Then Poo drops all too hard.
More Oil in our own Permit.
You bet and we are going to go get it.
We have 8 pumps drawing out of CH.
Please I do not for one minute believe that is the only oil around there.
Since CH started pumping has not been touched on the increase/develop side.
Can we Drill from our own platform? YES.
Nobody has had the balls and money to take another serious crack at it till know.
Offshore Platform and Wellhead
Extraction of the crude oil from the reservoir occurs at the offshore wellhead platform CHA (Figure
2-1). The CHA platform is a steel parallel 4-leg jacket complete with drilled and grouted piles
through each of the legs. Production and re-injection utilises up to nine well slots, which include
the following:
Three water re-injection wells, which receive injection water from the ASP and inject it
into the reservoir to aid oil production;
Five production wells which produce crude oil and PFW from the reservoir;
One spare well slot.
The platform operates unmanned except for periodic visits for maintenance and inspection. The
platform has four levels: the main deck, mezzanine deck, cellar deck and sub-cellar deck. The
platform facilities are spread over the four levels with the helideck located at the east end of the
main deck. A 25 tonne platform crane is located at the North West corner of the main deck and is
sized to suit boatlifts and support operations for the ESP’s and well workover.
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