STX 0.00% 21.0¢ strike energy limited

drilling report due out today, page-8

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    m12

    Thanks for the response, excellent post. Did some homework myself and here is what I found on the Schlumberger site, for anyone who is interested.

    The reduced or total absence of fluid flow up the annulus when fluid is pumped through the drillstring. Though the definitions of different operators vary, this reduction of flow may generally be classified as seepage (less than 20 bbl/hr [3 m3/hr]), partial lost returns (greater than 20 bbl/hr [3 m3/hr] but still some returns), and total lost returns (where no fluid comes out of the annulus). In this severe latter case, the hole may not remain full of fluid even if the pumps are turned off. If the hole does not remain full of fluid, the vertical height of the fluid column is reduced and the pressure exerted on the open formations is reduced. This in turn can result in another zone flowing into the wellbore, while the loss zone is taking mud, or even a catastrophic loss of well control. Even in the two less severe forms, the loss of fluid to the formation represents a financial loss that must be dealt with, and the impact of which is directly tied to the per barrel cost of the drilling fluid and the loss rate over time.

    HC
 
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