Wednesday, February 24, 2010

Penan Q4-CC

Alla otteita Penn West Energy Trustin conference callin transkriptista.

"Jonathan Fleming – Cormark Securities

Looking at this 800 barrel per day well you drilled into the water flood part of the Pembina pool I am wondering how long that well has been on production? Can you give some color around if there is any water cut in that well and where you would see the reserves on that type well go relative to the type curve that you had at your investor day? Finally, are you going to have any follow-up type wells on that in the water flood part of the pool?

Bob Shepherd

The well in question has been on a relatively short time. We have just over a week’s production from the well. It is currently being evaluated and we are very encouraged by those early results. I would want to emphasize we have tremendous amount of follow-up potential both to this well in the interior parts of the field in PCU9 and as Murray mentioned we are extending the program well beyond that. It is the first of many I think you are going to see and it is early days in the well but very encouraging production rates.

Murray Nunns

I will follow-up to that a little bit. Overall if you look at our holding approximately 30% are what we classify as pool centered and about 70% are either perimeter or halo positions. I think our program will have a slight bend to the perimeter halos but we will continue to evaluate and develop on the interior pools because what we have seen is there is a good spread of results on the interior pools and we believe in the long run this technique will work for both areas.

It will work for the interior of the pools and it will work for the perimeter and the halos. So we are encouraged on both sides and we think this well in particular can be equal to or exceed anything that has been found in the trend to date. It is just an indicator in an area where there is a little bit of pressure in the center of these pools there is ample opportunity for us to develop those as well as our perimeter and halo positions."


Hyö ovat siis sitä mieltä että Pembinan sisäpuolella on vieläkin potentiaalia aiemmasta reijityksestä huolimatta.
"One of the biggest areas of reserve growth this year was through horizontal drilling in the Leitchville area and then just generally across all of the properties we are putting an additional focus on"

Mielenkiintoista siinä että suurin osa Penan maasta Leitchvillessä siirtyi Crescent Pointille. CPG:ltä pitäisi odottaa viime vuodelta merkittävää määrää uusia reservejä tuolta. Toisaalta yhtiö aloittanut poraamaan agressiivisesti Shaunavonia vasta tämän vuoden puolella.

We had geared our wells towards injecting water. We were getting rates of up to 500 barrels per day of water injection initially. This compared with vertical injection rates of 40-50 barrels per day. We were very pleased with the fact the injection rate stayed up a good rates over the period of 1-1.5 years. What we decided to do last year was let’s take a couple of these water wells or injection wells and see how much oil we can get out of them. We were very encouraged. We weren’t getting the rates that are being reported in some of the halo wells recently but we were taking wells from basically nothing and taking them up into the range of 60-90 barrels per day.

Horisontaali injektiokaivo muutettiin tuottajaksi. Vaan kuinka paljon vettä tulee tuon öljyn mukana.

Fergal Kelly – RBC Capital Markets

I was wondering if you could give us some color on what your plans are in 2010 for both the greater Swan Hills area and also July Lake?

Murray Nunns

There are two significant areas that are not in the top three in terms of our overall programs but are areas we are paying particular attention to. For the Swan Hills area, we are out there testing a few things. We are doing some obvious development work on the front of the [reefs]. We are also kind of taking a look at the platform. There is enough interest there that we think there is some application for the horizontal but we are just not exactly certain how it grades out yet. We have a very extensive position so it is a bit more of an exploration, poke and evaluate type exercise.

Jos historiasta voi jotain päätellä niin Penalta ei kannata odottaa minkäänlaisia innovaatioita, konttaavat muiden perässä. Mahtavat maat, mutta surkea hyödyntäminen. Pembinan Cardiumilla innovoi Nexstar/Bonterra, Waskadalla EOG, Shaunavonissa Wave, Sealissa parempia tuloksia tekee Baytex.
Jos Arcan on tosiaan saanut jotain uutta ja toimivaa aikaan voi odottaa että Pena kopioi.


Then you are into a mode where you are in-field drilling. Areas like Waskada, the thought right now is 10-12 horizontals per section. We think roughly the same at Dodsland as we move through the Cardium. I don’t think we have hit the right number yet but it might be 6 and it might 8 wells per section.


6 kaivoa per osio Cardiumilla? Riippuu varmaan sijainnista. Monien yhtiöiden Cardium-inventaario voi kasvaa vuosien mittaan merkittävästi.

MUOKKAILTU 25.03.2010

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