Horn River-Exshaw

Quicksilver Resources:

"In our shale exploration in the Horn River Basin, our focus has been on the Devonian Muskwa and Klua shales. As part of our early exploration, we have sidewall cored the upper formations, as well as the deeper shales. In the coring, we have seen very good oil shows in the Bakken-Exshaw section at approximately 4,000 feet. We have had these shows in all four shale wells we've drilled to date.

Analysis of the core samples have shown an 80-foot section to be in a high mature oil window in terms of thermal maturity. All of the core showed mobile oil. We will reenter a seismic monitoring well later this year and drill a horizontal leg for initial testing of this Bakken-Exshaw zone and look forward to fully evaluating this added potential to our large lease block up in Northeast British Columbia."

As far as Horn River Basin, this just could be lanyard for us with our large shale gas play, and we are seeing some consistency across all the wells that we've drilled so far and definitely in a thermal maturity window, that is oil mobile oil, and as far as infrastructure, we spoke to that – answered some of those questions, but those – there are more questions to ask ourselves. So that's early, but we are encouraged and we like the looks of that, it would be great to have an oilfield on top of a gas field. We'll see.

Sitaatit ovat Quicksilverin Q4-CC:stä joka löytyy yhtiön kotisivuilta ja linkki transkriptiin löytyy aiemmasta postauksesta. Kuva on tästä presentaatiosta. Horn River Basin on tosiaan tunnettu maakaasusta ja itse olen EOG:n Barnett Combon innoittamana useasti etsinyt mainintoja neste-löydöistä alueella löytämättä ainuttakaan. KWK:n conferen callissa joku anaali/rahastonhoitelija/muu ammattimies mainitsee myös että ei ole aiemmin kuullut Exshawta, öljyä ja Horn Riveriä mainittavan samassa yhteydessä. Tuosta voi ehkä päätellä että öljyinen Exshaw ei ole yleinen tuolla seudulla.

Kaivojen sijainnit löytyvät presentaatiossa olevassa kartasta. Quicksilverin rajanaapurit Horn Riverissä näyttävät olevan isohkoja yhtiöitä(EOG, Devon, Apache), mutta parissa pienemmässä pläntissä ei näkynyt nimeä.

Tässä voi olla jotain tai sitten ei. Aika näyttää.

Uutisia

ATA Says Natural Gas Not Viable for Longhaul

Pemex Proven Reserves May Drop for 11th Straight Year

Russia oil output rises by 0.8 percent in Jan-Oct

NZ Zeroes in on Offshore Deepwater Basins

Sonangol, Petrobras Strike Oil in Deepwater Angolan Well

Repsol weighs Brazil CO2 challenge

Petrobras and BG Group in LNG deal

"Brazilian state-run energy giant Petrobras, has formed a joint-venture with BG Group to develop a floating liquefied natural gas processing facility, Petrobras said in a statement"

Kelluvia kaasun nestetyksen ja uudelleen kaasutuksen projekteja on suunnitteilla useita. Markkinoiden uudemmista toimijoista mm. Golar Energy ja Flex LNG ovat markkinoineet ratkaisujaan jo jonkin aikaa, mutta toteutus valinnat ovat kohdistuneet suurien toimijoiden kuten Technipin tuotteisiin.

Horn River gas output to rise tenfold

Horn Riverin kaasuresursi on massiivinen ja sieltä sekä Montneysta tuotettavaa kaasua onkin kaavailtu vietäväksi Kaakkois-Aasiaan. Kanadan länsi-rannikolle on suunnitteilla vientiä varten Kitimat LNG-terminaali. Hassua miten asiat muuttuvat: vielä muutama vuosi sitten BC:n rannikolla sijaitsevalle Texada-saarelle suunniteltiin rakennettavaksi LNG:n tuontiterminaalia.

Kitimat-terminaalia puuhastelee yksityinen yhtiö nimeltä Galveston LNG, mutta vietävä maakaasu terminaaliin kulkisi pääasiassa Pacific Northern Gasin ja Spectra Energyn putkia pitkin.

FIXAILTU 19.11.2009 ja 22.11.2009

Otsikoit

Total Canada chief says oilsands need pricier oil

Pengrowth boosts Horn River stake

Supertankers May Halt Oil Trading, Frontline Says

STX Europe Awarded Contract on New Eco-friendly Design in Brazil

"STX Europe has been awarded a contract with Deep Sea Supply for design and building of a Platform Supply Vessel. The new PSV 09 CD design, optimized for eco-drive in all weather conditions, is designed by STX Europe in Ålesund, Norway. The vessel is scheduled for delivery in Q1 2012, and will be built at STX Europe in Brazil."

Yksi Fredriksenin yhtiö on siis lähtenyt mukaan Petrobrasin(Brasilian valtion) "Made in Brazil"-hankkeeseen.

Companies bet big on South Texas gas find

"...While the Eagle Ford is among the smallest of the group, with some 19 trillion cubic feet of natural gas remaining, the economics is among the best, the firm said.

Producers in the Eagle Ford can break even when natural gas is priced as low as $3.88 per million British thermal units, the firm said, versus break-even prices of $5.18 in the Barnett, $3.74 in the Marcellus and $4.49 in the Haynesville..."

Shell: North American Natural Gas Production Will Grow

"Though gas prices are now very low, Mr. Odum said in a Monday interview with The Wall Street Journal, Shell believes long-term prices will recover, justifying the company's interest."

Tuoretta

Pre-salt economically viable at $45

"Brazilian state-run energy giant Petrobras pegs development of recently discovered offshore oilfields as economically viable at a little less than $45 per barrel, company boss Sergio Gabrielli said today.

"Today, from an economic point of view, the subsalt is already viable and will be even more profitable with greater knowledge that we will have of its capacity," Gabrielli was quoted by the Estado news agency as saying. "The subsalt is the future of Brazil."

ONGC seeks rig for western offshore

"India’s Oil and Natural Gas Corporation (ONGC) wants to hire one more deep-water drilling unit to drill in the western offshore blocks from December 2010.

ONGC’s exploration director, DK Pande expects the rig day rate to remain at $500,000 to $700,000, similar to the previous year, despite the decline of oil prices, according to the Business Standard report..."

ONGC:llä ja Seadrillillä oli pari vuotta sitten sopimusrikkomukseen liittyvä pieni kärhämä, jonka johdosta joku paikallinen tuotmioistuin kielsi ONGC:tä yhteistyön Seadrillin kanssa. Liekö kielto vielä voimassa? Tapaus oli kokonaisuudessaan hyvin outo.
Intialaisien toiminta on syvän veden suhteen ollut hupaisaa, muutama vuosi sitten mm. ONGC kauhisteli korkeita dr:ä ja nyt kun ne ovat vieläkin korkeammalla tehdään sopimuksia.

BP sets sight on US Gulf deep-waters

"BP will focus on deep-water plays in the US Gulf of Mexico and step up the efficiency of its refineries, BP America chairman Lamar McKay said..."

Nexen Boasts Continued Success at Horn River Shale Play

"Nexen continues to make significant progress on its substantial Horn River shale gas position in northeast British Columbia following the conclusion of a recent three-well drilling and completion program. With five shale gas wells now on-stream, Nexen is producing between 15-20 mmcf/d with the majority of production coming from the three new wells. These wells have a higher frac density than the company's earlier wells. Nexen's land position here could support 500 to 700 wells."

Quicksilver Resourcen tuore kaivo Horn Riverissä saavutti 13 mmcf:n eli yli 2000 boe:n alkutuotannon. Horn River saattaa olla Pohjois-Amerikan suurin liuske kaasu resurssi.

“Natural gas will displace coal. It will displace oil”

The big drill

"What energy crisis? Despite what you may be hearing about a global peak in oil production, waning reserves, and $100-plus oil prices, North America is suddenly awash in fossil fuel.

Sophisticated new drilling methods and a shared epiphany among exploration companies about the vast potential for new natural gas production from deep underground shale deposits have overturned decades of gloom about waning gas supplies.

“Natural gas will displace coal. It will displace oil,” said Mike Graham, Canadian foothills division president for Calgary-based gas giant EnCana. “There is no reason North America shouldn’t be energy self-sufficient if we can displace a lot of the oil with natural gas...”

Petrobank Q1

Revenues C$173.70 million (+7.6%)
Funds flow from operations C$125.15 million (+1.3%)
Net income C$-1.54 million
EPS C$-0.02


Production(Canadian Business Unit only)
Liquids 19,722 bbls/d
Natural gas 14,179 mcf/d (-7%)
Operating netback: C$34.68

Balance sheet

Asset
Current C$189.53 million
Total C$2,414.14 million

Liabilities
Current C$300.37 million
Total C$1,181.72 million

Equity C$1,051.20 million

P/E 13.67, P/B 2.55

Quotes from the report:

"In 2009, our primary focus will be to maintain our low-cost advantage through selective drilling in the Bakken. We are positioned for continued long term reserve and production growth, despite our reduced pace of development at the beginning of 2009. At current commodity prices we expect to drill a further 50 wells this year and if oil prices improve we are prepared to drill as many as 120 wells in 2009."

"Petrobank pioneered the horizontal fracture stimulation techniques that opened up the true potential of this substantial resource, and we continue to find new ways to improve well performance and expected ultimate recoveries from the Bakken. Our recent efforts to further improve Bakken production have focused on increasing the intensity of fracture stimulation completions (fracs) by 38% in our long (1400 metre) horizontals, by 200% in our short (700 metre) horizontals, and by 400% in our shortbilateral (two 700 metre horizontal legs from a single vertical well bore) horizontal wells."

"Petrobank has also established strong positions in two massive natural gas resource plays; the Montney and the Horn River Basin. The key to unlocking the potential of these plays is through the use of horizontal wells and multi-stage fracture stimulation technologies, similar to those pioneered by Petrobank in the Bakken. We intend to capitalize on our evolving experience with advanced fracturing techniques, with the goal of building a substantial, long-term inventory of drilling locations at a low nearterm cost."

"Whitesands Project
During March and into the second quarter of 2009, P3B operations were stabilized and rateable production was achieved. In the first quarter, P3B operations were ramped up following the A3 injectionwell workover and the commissioning of new plant facilities. Production averaged 248 bopd in March and 256 bopd in April, these restricted production rates correspond to a reduced air injection rate required to balance P2 production operations."

The report(.pdf)

I: PBG has approximately 75 million in credit available so the liquidity remains relatively tight.
The Bakken operations are developing well: the new infrastructure is lowering operating costs and is enabling the recovery of associated gas. New drilling techniques are improwing well productivity as is the case with CPG and TOG.