in petrobtras i trust, page-31

Pocko,

The recovery factor is a function of many many things and no doubt MEO have looked into the possible range of recoveries from analogue fields (they're right next to NWS). They will also have used computer modelling to understand the possible recovery mechanisms. 60% is just one number which they believe to be a P50 or 50/50 chance the recovery will be higher or lower. I'd imagine from all the sands / fields the NWS have developed, recoveries have ranged between 30 - 85%, with the higher range being directly attributable to the fact the reservoirs are simple (no internal faults, thick, high productivity sands, possible some down dip aquifer support), they have dry trees (platforms) and compressors and the lower range associated with reservoirs that are complex, the wells are subsea and there's no compression. MEO are likely to carry this RF for some time, unless drilling, new seismic interps and a change to the field development suggests otherwise.

As for the condensate yield, that too is likely to be based on analogue fields nearby and they're geological model. The NWS fields are condensate rich, but Pluto is relatively dry. They should have an idea of the amount of associated condensate when they run the MDT logs. As for the recovery of condensate, that too is a function of many things, but the key for us at the moment is the condensate gas ratio and this will only be known once the results of the MDT logs have been finalised. From what I recall, the gas from Artemis is expected to dry (less than 10 bbl/mmscf), but don't quote me on it. The value here is the gas.

Cheers
Norton