Read this from OW as it highlights something of importance.
I picked this up from 88e lon
This is more of a sows ear than a silk purse. The BFF is the bulk of the estimated prospective resource, and was at an estimate of 341 mmbo. Be clear this was an oil only estimate, including absolutely no NGLs or condensate. NSAI are a highly regarded top tier assessor of resources, so can be trusted in their estimates. They have come up with a contingent estimate of only 28 mmbo. Spread this over the large acreage involved and the flow rate looks poor per well, that will feed directly into the economics of the field. After including the NGLs it improves a little, but be aware NGLs vary in value depending on their composition and require additional capital to extract from the gas stream. PANR have calculated a value of 80 to 90% on ANS crude price for NGLs in Alkaids case, with an overall value of 90% for their combined stream of oil, condensate and NGLs Without a flow test of the BFF at Hickory, it will remain of questionable value, as the flow rate is a key factor in ultimate expected recovery from each well. The cost of drilling , completion, capital and operation must be substantially exceeded by the saleable liquids to be of any value to an investor. A low flow rate well will fail to reach this commercial bar 88e have indicated they are not going to flow test the BFF this season, which then means the well will no longer be available for this, as it will be plugged off in testing the upper zones. It make zero sense to forgo the flow test if the BFF is commercial
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