Soaking

Since I own 7Gen, Pony and Pipestone, I thought I'd direct a shareholder question to them on the subject of "soaking" to see how relevant it is to the big Montney drillers. I included Pony (which has yet to respond), which is more dry gas focused and the soaking commentary is more liquids and CGR focused, because they are closest to our area of operations. I'll update if/when they respond.

The reference points for questions were the comments by:

(a) "Pipestone Energy has observed substantial improvements in both total production rates and condensate to gas ratios (“CGRs”) through providing “soak” time to wells by allowing them to sit for 6 – 12 months after completion or flow back on an extended basis."

and

(b) Verdazo that "average of 101 days to get Gas IP30 on a Montney sample set (518 wells)"


The questions and responses I posed to them are paraphrased and summarized as follows:


So make of the information what you will. My take is
1. Soaking is not a best operating practice and not a commonly done
2. Theoretical benefits are not supported in empirical results
3. The "cost" (delay of revenue) of deliberately soaking is not justifiable
4. Pipestone's purpose in making the soaking reference was to suggest the CGR likely to be higher than IP results
5. CE1's testing was interrupted by an early thaw. Had that not happened, IMO there would not have been a reference to soaking and possible improvements to CGR (but we'll never know).
6. Pad development naturally results in the soaking of some wells due to completion sequencing and hence the Verdazo data point reflects that.

Hope y'all find it useful.