ADI - Adelphi Energy

[rock86]

SUGARLOAF AMI PRODUCTION AND OPERATIONS UPDATE
Adelphi Energy Limited ("Adelphi") is pleased to provide the following update on production
and operations at the Sugarloaf AMI within the Sugarkane Gas & Condensate Field, Texas.
Kennedy #1H
This well was the first to be brought on line following stimulation and has been on continuous
production since 29 January 2010, it has not yet had production tubing installed.
Q1 2010 gross production - 29/01/10 to 31/03/10 (62 days)
Total Gas – 151 mmscf (average 2.44 mmscf/d)
Total Condensate – 31,383 bbls (average 506 bpd)
Average Daily Gas Equivalent – 9.12 mmscfe/d^
60 day gross production
Total Gas – 148 mmscf (average 2.47 mmscf/d)
Total Condensate – 30,825 bbls (average 514 bpd)
Average Daily Gas Equivalent – 9.26 mmscfe/d^
Weston #1H
This well has been on continuous production since 16 February 2010 and has not yet had
production tubing installed. The 60 day gross production has been estimated to allow
comparisons to be made.
Q1 2010 gross production - 16/02/10 to 31/03/10 (44 days)
Total Gas – 253 mmscf (average 5.76 mmscf/d)
Total Condensate – 16,648 bbls (average 378 bpd)
Average Daily Gas Equivalent – 11.74 mmscfe/d^
60 day gross production*
Total Gas – 342 mmscf (average 5.7 mmscf/d)
Total Condensate – 21,351 bbls (average 356 bpd)
Average Daily Gas Equivalent – 11.4 mmscfe/d^
^equivalent gas rates have been calculated using an industry standard 12:1 conversion of oil
to gas and an uplift to the gas volume of 25% representing the high calorific content of the
gas.
*this figure is based on 57 days data and 3 days extrapolation based on the decline observed
in the last day of reported data.
2
On 25 March 2010 Adelphi reported 30 day average production figures (calculated on the
same basis) and these were: Weston #1H – 11.5 mmscfe/d and Kennedy #1H – 11.7
mmscfe/d.
By comparison the Petrohawk (NYSE:HK) announcement released on 01/02/10 had a 30 day
average from 19 wells in its Hawkville Field at 7.8 mmscfe/d and a 60 day average from 18
wells at 6.6 mmscfe/d when calculated on a 12:1 basis.

Agentm, do you think fitting production tubing will have a significant impact on the flow rates?

Good announcement, flow rates are excellent, expecially for Kennedy when only 1500 ft (by memory) was fracced. Then we have Weston that was a chalks well producing above average gas production from surrounding areas.

These two wells clearly show what is possible of these new wells, the horizontals will be over 3 times bigger and will encounter both zones.

I think we might have 3 monsters on our hand if all fraccs go to plan.

All IMO

on a different note, 5,000 posts on ADI thread, amazing

 

[Agentm]

Kennedy

• The well is flowing from approximately 2,200 ft of stimulated Eagle Ford Shale with the remainder of the 4,000 ft horizontal liner isolated and not contributing.


Kennedy #1H

This well was the first to be brought on line following stimulation and has been on continuous production since 29 January 2010, it has not yet had production tubing installed.

Q1 2010 gross production - 29/01/10 to 31/03/10 (62 days)

Total Gas – 151 mmscf (average 2.44 mmscf/d)
Total Condensate – 31,383 bbls (average 506 bpd)
Average Daily Gas Equivalent – 9.12 mmscfe/d^

60 day gross production
Total Gas – 148 mmscf (average 2.47 mmscf/d)
Total Condensate – 30,825 bbls (average 514 bpd)
Average Daily Gas Equivalent – 9.26 mmscfe/d^


Weston

Adelphi has been advised by the Operator, Hilcorp Energy, that following a successful fracture stimulation of 3,000’ of horizontal section...

Q1 2010 gross production - 16/02/10 to 31/03/10 (44 days)
Total Gas – 253 mmscf (average 5.76 mmscf/d)
Total Condensate – 16,648 bbls (average 378 bpd)
Average Daily Gas Equivalent – 11.74 mmscfe/d^


pretty spectacular imho

 

[rock86]

Good announcement, flow rates are excellent, expecially for Kennedy when only 1500 ft (by memory) was fracced. Then we have Weston that was a chalks well producing above average gas production from surrounding areas.

These two wells clearly show what is possible of these new wells, the horizontals will be over 3 times bigger and will encounter both zones.

I think we might have 3 monsters on our hand if all fraccs go to plan.

All IMO

on a different note, 5,000 posts on ADI thread, amazing

Kennedy

• The well is flowing from approximately 2,200 ft of stimulated Eagle Ford Shale with the remainder of the 4,000 ft horizontal liner isolated and not contributing.


Kennedy #1H

This well was the first to be brought on line following stimulation and has been on continuous production since 29 January 2010, it has not yet had production tubing installed.

Q1 2010 gross production - 29/01/10 to 31/03/10 (62 days)

Total Gas – 151 mmscf (average 2.44 mmscf/d)
Total Condensate – 31,383 bbls (average 506 bpd)
Average Daily Gas Equivalent – 9.12 mmscfe/d^

60 day gross production
Total Gas – 148 mmscf (average 2.47 mmscf/d)
Total Condensate – 30,825 bbls (average 514 bpd)
Average Daily Gas Equivalent – 9.26 mmscfe/d^


Weston

Adelphi has been advised by the Operator, Hilcorp Energy, that following a successful fracture stimulation of 3,000’ of horizontal section...

Q1 2010 gross production - 16/02/10 to 31/03/10 (44 days)
Total Gas – 253 mmscf (average 5.76 mmscf/d)
Total Condensate – 16,648 bbls (average 378 bpd)
Average Daily Gas Equivalent – 11.74 mmscfe/d^


pretty spectacular imho

I was a fair bit off in the horizontal lengths but agree Agent great reults, and with no production tubing as of yet, how much difference (better) do you think it will make to production rates and decline??

ps. still think these new wells will be monsters

 

[AngusSmart]

I wish the AUT thread was this active, but its all the same same really right?

good news however..

AUT has not moved at all today while the other two have upped 4%

 

[lemontree]

Yeah this thread basically covers EKA and AUT as well. I wouldnt worry about the price movements of ADI and EKA comapred to AUT today. ADI is going up and down between .280 and .300 while EKA is fluctuating between .115 and .120 there probably wont be any real price changes until after the fracs are done for the other 2 wells

 

[swcbonfire]

Howdy y'all. Good to see some Gonzales people on here, this thread is a great source of information and probably the most specific source about exploration in the Eagle Ford.

I came across some information compiled by the USGS in my search to see if the Eagle Ford was under my property in Gonzales County. I am on the updip side 13 miles from Gonzales... but I don't know of anyone in Gonzales county leasing north of a Nixon to Gonzales line, a line approximating the top of the Austin chalk above 8000 feet.

As I am a new poster, I cannot post a direct link but the study is entitled :
"2003 Geologic Assessment of
Undiscovered Conventional Oil
and Gas Resources in the Upper
Cretaceous Navarro and Taylor
Groups, Western Gulf Province, Texas"

A google search of the document name, "69_H_CH_2", should take you right to it.


Figure 5 shows a map of the total thickness of the Austin/Eagle Ford group... I'm no expert about the relative thicknesses between the two, and I'm sure they vary locally, but from what I know the Austin chalk is significantly thicker in relation to the underlying Eagle Ford, often many times thicker.

Based on that map, the Karnes county wells are probably on the 100-300' thick portions of the trend as all but the western tip of the county is thicker than 100'.

Figure 6 shows a map of the overburden to the top of the Austin Chalk (and you can extrapolate out to the bottom of the underlying Eagle Ford).

Thought I'd share. I don't know if I'll get anything from this, if the shale is thick enough or has enough hydrocarbons in my area of the shallow updip to be viable, but this is going to be a net positive for our area, period. I appreciate the investors in this group and down under for providing the capital to utilize our natural resources to the fullest - looks like it's going to take a lot of it to get all these wells producing.

 

[Agentm]

swcbonfire

this is not a forum for geological advice, this forum is for investors, and the topic is adi, on the asx stock exchange. my view is that should the topic remain on landowners it would likely be moderated..

some locals are posting here, but many are either adding info on the regional developments for investors.. the info is about developments in the play, not about whos land has what!

my view is that your way off topic here.. and its easy to pm a mod and ask they remove a post you think needs removing, this one can be wiped too as its simply a reply to yours

 

[mick z]

oh.....my.......god....agentm that takes the cake, who do you think you are telling people what they can post on here, you do NOT run this forum.
unbelievable

 

[fflintoff]

Mick,
Most of the folks in the UK misguidedly think that all of the aussies act in the same manner as agentm so the nature of his posts won ´t come as a surprise to those folks.:bonk::bonk:

 

[Agentm]

oh.....my.......god....agentm that takes the cake, who do you think you are telling people what they can post on here, you do NOT run this forum.
unbelievable

Mick,
Most of the folks in the UK misguidedly think that all of the aussies act in the same manner as agentm so the nature of his posts won ´t come as a surprise to those folks.:bonk::bonk:

what has this got to do with adi??

your just trying to breach the rules of the forum and flame

please stay on topic,.. imho moderation is required..

 

[Silhouetteau]

Can someone explain why they haven't put production tubing on the first two wells?
Can this be done simultaneously with the other drilling that's going on?

I think agentm posted a while ago that production tubing increased flow by 30% and I just did a few quick calculations, they're missing out on around $10k/day per well by not including the tubing.

Also interesting to note that they have decided to frac Morgan before Easley now, I'm keen to see what production comes from the 5000ft horizontal.

 

[fflintoff]

Can someone explain why they haven't put production tubing on the first two wells?
Can this be done simultaneously with the other drilling that's going on?

I think agentm posted a while ago that production tubing increased flow by 30% and I just did a few quick calculations, they're missing out on around $10k/day per well by not including the tubing.

Also interesting to note that they have decided to frac Morgan before Easley now, I'm keen to see what production comes from the 5000ft horizontal.

The 30% increase is extremely unreliable & should be treated with extreme caution.

 

[Ramblin Round]

And fflintoff, circumventing the minimum character count should be treated with extreme caution as well.


As for the production tubing (in my limited experience of commenting on it), that seems to be a confusing take for the driveby oil and gas investor. It could mean that when inserted the well is ready to produce heavily, or it could mean they're having hell with that particular well and it needs more stimulating to perform. And yes if done correctly this can be done while other drilling is going on.

 

[Agentm]

Can someone explain why they haven't put production tubing on the first two wells?
Can this be done simultaneously with the other drilling that's going on?

I think agentm posted a while ago that production tubing increased flow by 30% and I just did a few quick calculations, they're missing out on around $10k/day per well by not including the tubing.

Also interesting to note that they have decided to frac Morgan before Easley now, I'm keen to see what production comes from the 5000ft horizontal.

there have been improvements, but that is no a given

production strings will be put in place as needed and when needed, and there is a possibility the lifting capacity will improve, but it doesnt mean production will. its a case of wait and see.

petrohawk for instance has commented on experiments where they choke the well back to see if there are any improvements over a 12 month period in some shale plays.. one operator reported improvements in mcmullen after putting in a production liner later, would be brilliant if that happened for our wells but imho its just a possibility only

 

[Agentm]

just south of the turnbull 2 well is the next well turnbull 3 in line with kowalik, rancho grande 5000 foot completion and morgan 5000 foot completion

 

[Agie82]

Trying to get more informed on ADI, are there any producers that ADI is associated with. I mean I see EOG and Hilcorp mentioned quite a bit, but is ADI in with these guys or are the just the ones doing the drilling in and around sugarloaf. If ADI comes up our way do they operate as ADI or are they using a different name. Just trying to be more informed.

 

[Agentm]

Trying to get more informed on ADI, are there any producers that ADI is associated with. I mean I see EOG and Hilcorp mentioned quite a bit, but is ADI in with these guys or are the just the ones doing the drilling in and around sugarloaf. If ADI comes up our way do they operate as ADI or are they using a different name. Just trying to be more informed.

adi aut and eka on the ASX and a private company called TCEI are in a jvp with hilcorp. hilcorp have just taken over as operators from texas crude ind inc..


the AMI is 23000 odd acres. AUT has extended their position into further acres with TCEI and Hilcorp

Hilcorp are buying more regional acreages

you wont see adi in gonzales imho

TCEI and conoco have combined acreages and we know TCEI originally made the discovery well in live oak called kunde 1 in 2006 when it was in partnership with burlington, which was taken over by conocophillips

adi is just a partner here.. not an operator

hilcorp are doing an outstanding job right now on the play as operator..

amazing outfit imho

 

[Agie82]

adi aut and eka on the ASX and a private company called TCEI are in a jvp with hilcorp. hilcorp have just taken over as operators from texas crude ind inc..


the AMI is 23000 odd acres. AUT has extended their position into further acres with TCEI and Hilcorp

Hilcorp are buying more regional acreages

you wont see adi in gonzales imho

TCEI and conoco have combined acreages and we know TCEI originally made the discovery well in live oak called kunde 1 in 2006 when it was in partnership with burlington, which was taken over by conocophillips

adi is just a partner here.. not an operator

hilcorp are doing an outstanding job right now on the play as operator..

amazing outfit imho

So, Agentm, I see Hilcorp is drilling its first well on the Barnhart ranch lease at Pilgrim Lake, about .5 mile se of Pilgrim and 4 miles or so north of Westhoff. You are saying ADI does not have any part in these wells, that Hilcorp is doing the Gonzales county wells on their own? Also, more coffe house talk, EOG is looking to drill around 400 wells in Gonzales
County on their leases over the next 2-3 years, for what it's worth.

 

[Agentm]

So, Agentm, I see Hilcorp is drilling its first well on the Barnhart ranch lease at Pilgrim Lake, about .5 mile se of Pilgrim and 4 miles or so north of Westhoff. You are saying ADI does not have any part in these wells, that Hilcorp is doing the Gonzales county wells on their own? Also, more coffe house talk, EOG is looking to drill around 400 wells in Gonzales
County on their leases over the next 2-3 years, for what it's worth.

hilcorp are certainly expanding into he play

adi have no interests in the gozales acreages.. just the karnes county acres

in the nearby acreages turnbull 1 is practically drilled out if you consider 19 days to complete is practical now.

turnbull 2 has a rig on it

i am getting reports of frac crews all over these sites that adi have interests in

imho will be getting busy there in the near term for all

 

[Bilja]

Why is it that ADI SP dropped 5% today, whilst AUT SP gained 5%??

Can anyone explain why AUT SP seems to be driving higher each day, and most importantly on the back of positive announcements....whilst ADI continues to slide.

Why is ADI SP sliding on the back of positive announcements and what is it going to take to see some proper gains towards the mooted derisked SP that has been so widely advertised??