CKE matkalla väärään suuntaan?

Chinook Energy Announces Strategic Canadian Asset Acquisition and New Credit Facility

 Effective April 1, 2012, Chinook acquired certain assets in the greater Grande Prairie area of northwestern Alberta from a senior producer for $31 million, before closing adjustments and related costs (the "Acquisition"). The acquired assets are within Chinook's core Grande Prairie operating area and expand the Company's Dunvegan and Doe Creek oil focus.

290 boe per päivä tuotantoa(60% nesteitä), 1.52 miljoonaa boeta 1P-reservejä ja 2.21 miljoonaa boeta 2P-reservejä.1P reserveille hintaa $20.40 ja 2P-reserveille hintaa 14 dollaria per boe. Myyjä taitaa olla Devonin Kanadan tytäryhtiö.
Ostos näyttää kalliilta. CKE:llä on tai ainakin oli myynnissä osa Kanadan omaisuudesta, nyt suunnitelmat näyttävät muuttuneen. Tai sitten ei-ydintoiminnoiksi määritellyt omaisuuserät ovat yhä myynnissä. Ehkä Tunisiassa poliittinen tilanne on käymässä epävakaammaksi, joten yhtiö tarvitsee vakaamman tukijalan.
Näkisin, että nuo 31 miljoonaa dollaria olisi voinut käyttää paremmin.

Tunisian explorationia johtava Lindskog on ostanut viikko sitten 100,000 osaketta suoraan pörssistä.

Big Benin Tartar-biffi tihkuu rasvaa

Chinook Energy Provides Operational Update

TT-16
 The TT-11 well is Chinook's third horizontal well test of the Ordovician Quartzite Reservoir on the Bir Ben Tartar Concession (the "BBT Concession"). Partners in the concession are block holder, Enterprise Tunisienne D'Activites de Petrolieres ("ETAP"), and contractors, Chinook (86% interest) and Cygam Energy Inc. (14% interest). Completion operations on TT-11 commenced on October 22, 2012 and, following a 12-stage fracture stimulation placing a total of 447,810 pounds of proppant, production testing began on October 24, 2012. Over the initial 144 hour flow period, the TT-11 well flowed at an average oil rate of 1,744 barrels of oil per day ("bopd"), an average water rate of 1,363 barrels of water per day (44% water cut) and average gas-to-oil ratio of 1,311 standard cubic feet of gas per barrel of oil. Cumulative water recovered to date represents approximately 72% of the load fluid used during completion and water cuts have decreased from 73% to 43% over the flow period to date. Early trend data in these initial applications of a multi-staged completion of the tight Ordovician sand reservoir should be assessed on more mature initial production data of 30 and 90 days, which will be released as that data becomes available.

 TT-13
Production from the previously announced TT-13 well averaged 3,251 bopd gross over the first 10 days of production and was subsequently restricted to 1,500 bopd gross due to capacity constraints and limitations on crude oil trucking and surface water handling.

TT-16
 Gross production from the first horizontal well at TT-16 averaged 897 bopd over the first 10 days of production, 825 bopd over the first 30 days of production and 715 bopd over the first 60 days of production and is currently producing 515 bopd with 6% water cut after 101 days of production. Chinook estimates fourth quarter gross production from the BBT Concession to average between 4,500 bopd and 4,750 bopd with an estimated gross productive capacity 2012 exit rate of 5,000 bopd to 5,250 bopd.

  IP-lukujen trendi on lievästi positiivinen. Näiden ensimmäisien kaivojen kustannukset ovat kuitenkin yli miljoonaa per reikä(ensimmäinen maksoi n. $12 miljoonaa), joten reilusti yli 1,000 tynnyrin IP-30-lukuihin pitäisi päästä. Kaivojen DCET-kustannukset asettunevat varmaankin tuonne 7-8 miljoonan seudulle.

Itselleni on vieläkin epäselvää kuinka suuri CKE:n BBT-kaivopaikkainventaario on. Kartan perusteella arviosin maksimissaan pari kymmentä potentiaalista reikää.

Tiedotteessa mainitaan myös, että Cosmos-poolin reservit ovat uuden arvion myötä nousseet reilut 60% eli pari miljoonaa tynnöriä. Cosmoksen tuotanto on käynnistymässä aikaisintaa vuonna 2014, joten merkityksellistä lyhyen aikavälin vaikutusta tuolla ei ole.

Pientä lisäys omaan positioon harkitsen, mutta ensin pitää ottaa selkoa kuinka suuri on BBT:n kvartsin potentiaalinen resurssi.

Bakken laatua Brent hinnoilla?

Chinook Energy Announces TT-13 Flow Test Results

CALGARY, ALBERTA--(Marketwire - Sept. 17, 2012) - Chinook Energy Inc. ("Chinook") (TSX:CKE) is pleased to announce the initial flow rates from the TT-13 horizontal well, which is the second horizontal well test of the Ordovician Quartzite reservoir in the Bir Ben Tartar concession. Partners in the concession are block holder Enterprise Tunisienne D'Activites de Petrolieres (ETAP) and Contractors Chinook (86% interest) and Cygam Energy Inc. (14% interest).

 

Well completion operations began on September 4, 2012 and following an 11 stage fracture stimulation and well clean out to ensure all ports were open, production testing began on September 15, 2012. Over the initial 48 hour flow period the TT-13 well produced at an average oil rate of 2,959 barrels of oil per day (bopd), an average water rate of 1,848 barrels of water per day (38% water cut) and an average gas-oil-ratio of 1,087 standard cubic feet of gas per barrel of oil (scf/bbl). The average daily oil rate over the last 12 hours has been 3,468 bopd through a 1.5" choke at a flowing wellhead pressure of 224 psi. Cumulative water recovered to date represents approximately 38% of the load fluid used during the completion operation and water cuts have decreased from 84% to 24% over the flow period to date.

Early trend data in these initial applications of a multi-staged completion of the tight Ordovician sand reservoir should be assessed on more mature initial production data of 30 and 90 days, which will be released as that data becomes available. The TT-13 well was fracture stimulated along the 1,035 meter horizontal section with the placement of approximately 438,850 pounds of sand over 11 stages. By way of comparison, the first horizontal test well (TT-16) averaged 897 bopd over the first 10 days of production from an 832 metre horizontal section with an eight stage completion. The average rate over the first 30 days of production was 825 bopd and the current rate after 54 days production is 665 bopd with an 11% water cut.

The TT-13 well encountered more reservoir by virtue of its longer length, the sand quality, as evidenced by samples, MWD logs and gas shows while drilling, also appears to be better at the TT-13 well when compared to similar data for TT-16. Completed well costs for the two wells is similar at approximately $12 million per well as improvements in the well design and execution of the TT-13 well program were offset by significant lost circulation problems while drilling. Chinook is confident well costs can be reduced materially on a percentage basis as its experience and program size increases

Chinook-tagillä löytyy aiheen aiempi seuranta. Big Benin Tartarbiffi-varanta ei ole mitenkään hurjan suuri, mutta fräkätyt horot mahdollistavat mehujen imun nopeammin ja talteenkin tulee enemmän tavaraa suorilla putkilla.
 

Chinook Energy Announces TT-16 Flow Test Results

Tiedote:

CALGARY, ALBERTA--(Marketwire - Aug. 7, 2012) - Chinook Energy Inc. ("Chinook") (TSX:CKE) is pleased to announce the initial flow rates from the TT-16 horizontal well. The initial horizontal test well of the Ordovician reservoir on the Bir Ben Tartar ("BBT") concession began production testing on July 15, 2012. Over the first six days (July 15 to July 21) the flow period was interrupted by attempts to circulate sand and clean the wellbore to its full length and included periods where wellbore energy was assisted by nitrogen injection, and as a result the flow rates over that period are not representative of well performance. Since July 22, 2012, the well has flowed under its natural reservoir energy. Over the initial 10 day flow period the TT-16 well produced at an average oil rate of 897 barrels of oil per day (bopd), an average water rate of 331 barrels of water per day (27% water cut) and an average gas-oil-ratio of 1,110 standard cubic feet of gas per barrel of oil (scf/bbl). To date Chinook has recovered 87% of the 8,700 barrels of load fluid and the water cut over the last 48 hours of flow has decreased to approximately 10%. The average daily oil rate over the last 48 hours has been 770 bopd through a 3/4" choke at a bottomhole flowing pressure of 925 psi. Although the flowing bottomhole pressure has shown signs of beginning to stabilize, extrapolation of the early trend data in the first application of a multi-staged completion of the tight Ordovician sand reservoir should be assessed on more mature initial production data of 30 and 90 days, which will be released in due course. The TT-16 well was fracture stimulated along the 832 meter horizontal section (previously incorrectly reported as a 950 metre horizontal section) with the placement of approximately 385,000 pounds of sand over eight stages.

Siedettävä alku.

Big Benin Tartar-biffi herkkua?

Melko pian pitäisi tulla selkoa:

 The first horizontal well to be drilled targeting the Ordovician Bir Ben Tartar Formation in the Ghadames Basin of Southern Tunisia was completed on July 1, 2012 with the rig release of the TT16 well.

 The TT16 well is the first multi-stage, hydraulically fractured horizontal well in Tunisia. It is also the largest multi-stage job attempted by Schlumberger on the African continent. Despite the significant challenges associated with logistics, equipment, and manpower, the operation was completed successfully and represents a valid test of this recognized technology in a new application. The target reservoir on the BBT concession is a thick (up to 50 metres of pay column), low permeability (average close to one millidarcy permeability), heterogeneous clastic reservoir that demonstrates commercial flow rates from stimulated vertical wells. The application of horizontal wells in this low quality, conventional reservoir is an attempt to increase the rate per well and ultimate recovery relative to what can be achieved with fractured vertical wells.

Sanoi Chinook

Kahden viikon päästä pitäisi olla kuukauden edestä testausta takana. Useimmiten tuollainen itsensä ja kumppanien onnittelu pelkän reijän rykäisystä on huono merkki tulevan kannalta. Tiedotteen mukaan poraus ja frakkus on onnistunut, joten testilukujen pitäisi antaa realistinen kuva kaivon potentiaalista.

CKE

Chinookia ostin. Osin sisäpiirin ostojen rohkaisemana.