With all due respect, a few well meaning but slightly off the mark technical posts in the last few days. Thought I'd clear things up for you.
1. Bottom hole assembly (BHA) must have been stuck at the bit, they will have worked the string up and down and put right hand torque in. I supect that when they released the right hand torque the string spun back too much the other way, unscrewing the bit. This is unusual.
2. To get free they will have pumped water and dissolved the salt.
3. Once they realised the bit was gone, little option but to put a kick off plug and try and go around the bit.
4. Sidetracking is a fairly standard procedure where you set a cement plug in the well then go in with a directional motor BHA and mill down the plug attempting to force the bit into the sidewall of the borehole and kick off. Usually it works, sometimes it doesn't if the bend setting on the motor isn't high enough, or the formation is much harder than the cement. So in this case they have had to re-set the cement plug and have increased the bend setting on the motor.
5. None of this has any bearing or influence on the reservoir or SSN's interpretation on the chance of success. This is pretty much the same as before spud at this point. They don't know.
6. All they do know is there is a good seal (the salt).
7. One thing I did find strange was that they plan to log before setting the contingency drilling liner. Thye stated the drilling liner will be set above the primary target. This is so thy will shut off the troublesome salt and can then drill the reservoir section in one hole size. What I am unsure of is why they want to log above the reservoir. I'm not reading anything into this but this is strange.
8. Drilling the reservoir in 6 or 6 1/8" hole may well be slooooowwwww, with multiple bit trips. Hopefully not HOG sloooowwww (I suspect their Oil will reach the surface of the Earth by natural erosion rather than their drilling prowess) but pretty slow.
9. If I was a betting man (and I am - I have a major stake in SSN) I would say we would have the results of the top target before Defender frac news but not much before.
cheers,
Oilman
SSN Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
