ADI - Adelphi Energy

[Hatchy]

Can anyone with technical knowledge explain why you don't frac the whole length of the lateral ? - there seems to be several hundred feet left that doesn't get fracced.

I did post a query a few days ago that I thought Easley was a bit short on the frac. My mistake - it was only a 3000ft lateral - shame about that, seems like the longer laterals get the better result.

If Morgan is anything to go by, (we should really be waiting to see what the stabilised results come back as) then Rancho should be a stunner also.

It's got to be the BCPD that turns these wells into big spinners - feel sorry for the other acreages with just dry gas!

Now I reckon the Kow needs to be worked out. Can anyone comment as to whether this well needs to be fixed before Hillcorp finalises their interest? I'll email ADI today and ask.

 

[Hatchy]

I've always been interested in Yemen.

I know it's the poor cousin to the Eagleford / Austin play, but I've just had this gut feeling that it could be a decent play.

I've attempted to attach a file that I found whilst searching around. It's from a company that brokers the deals to sell shares in acreages. Quite interesting reading for anyone else interested in Yemen.
View attachment P174Adelphi(Yemen)IntroFlyer.pdf

 

[Agentm]

Can anyone with technical knowledge explain why you don't frac the whole length of the lateral ? - there seems to be several hundred feet left that doesn't get fracced.

I did post a query a few days ago that I thought Easley was a bit short on the frac. My mistake - it was only a 3000ft lateral - shame about that, seems like the longer laterals get the better result.

If Morgan is anything to go by, (we should really be waiting to see what the stabilised results come back as) then Rancho should be a stunner also.

It's got to be the BCPD that turns these wells into big spinners - feel sorry for the other acreages with just dry gas!

Now I reckon the Kow needs to be worked out. Can anyone comment as to whether this well needs to be fixed before Hillcorp finalises their interest? I'll email ADI today and ask.

the rates on morgan and easley are not initial ips, the way i understand it, but as they announced, a more stabalissed flow report after a few days production..

Following the successful fracture stimulation of approximately 4,400 ft of horizontal section as per the frac design, the Morgan #1H well was flowed back to sales commencing on 27 April 2010. The well production has now stabilized and the following Initial Production rate was achieved:
· 5.16 mmscf/d Gas & 2,046 bcpd or 31 mmscfe/d


also.. the way i understand it hatchy, the wells are wirelined pretty extensively.. so any fractures indicated in the wireline would possibly be bypassed as they could potentially induce connectivity to other formations zones or create a screenout perhaps?? anyway thats how i understand it.. sections deemed not too favourable would possibly be missed in the frac process and the actual fractured length of the completion would be smaller thn the completion..

hope it helps

 

[Hatchy]

the rates on morgan and easley are not initial ips, the way i understand it, but as they announced, a more stabalissed flow report after a few days production..

also.. the way i understand it hatchy, the wells are wirelined pretty extensively.. so any fractures indicated in the wireline would possibly be bypassed as they could potentially induce connectivity to other formations zones or create a screenout perhaps?? anyway thats how i understand it.. sections deemed not too favourable would possibly be missed in the frac process and the actual fractured length of the completion would be smaller thn the completion..

hope it helps

Ah! Thanks Agent - I think I have a better grasp on the process now.

I got an email back from ADI about the Kow - it's all still under consideration and as such they can't give an answer, but they hope to have it sorted out soon.

 

[Agie82]

Can anyone give detailed instructions on where to find initial production rates and follow up production rates on oil wells and how to get them at that site. Thanks. Also see Hilcorp has 3 permitted sites on Barnhart Ranch at Pilgrim Lake. EOG is up to around 14 permitted and drilled wells at Cheapside. Gonzales County is still buzzing.

 

[rock86]

well well what a day, I'd like to thank Greece and the likes for sending markets into termoil...again

After a great announcment on awesome flow results from two wells yesterday we find the SP in the 20's...again

Some of you might say, aw it's a great time to accumulate. But this is just getting utterly rediculous. This play has now been proved how good it is and de-risked (completely for me) yet we see these rockbottom prices

Royally annoyed

 

[Hatchy]

well well what a day, I'd like to thank Greece and the likes for sending markets into termoil...again

After a great announcment on awesome flow results from two wells yesterday we find the SP in the 20's...again

Some of you might say, aw it's a great time to accumulate. But this is just getting utterly rediculous. This play has now been proved how good it is and de-risked (completely for me) yet we see these rockbottom prices

Royally annoyed

Yes it is a great time to accumulate, but that doesn't help those who've got no more cash to feed the monster.

What I can say is that patience is what helps. There's no use in tracking a share like this 10 times throughout the day.

ADI has shown itself IMO to be an investors stock, not a traders stock.

It's too easy to get carried away in the fact that this stock should be sitting pretty, it's missed the surge that carried AZZ and AUT upwards etc etc.

The fundamentals remain and that's what's so pleasing to remember.

Despite and possibly because of all this global turmoil the oil price has stayed up above $80 and the eagleford is producing!

As I heard recently at the start of a comedy show:
Now... Take a big breath in... good now everyone lower their expectations.

Don't fall prey to Prediction Addiction!

 

[AngusSmart]

Is Adi doing any more cap raising or is this all done for now??

i've not been following adi all that much. was more interested in aut..

 

[Hatchy]

Is Adi doing any more cap raising or is this all done for now??

i've not been following adi all that much. was more interested in aut..

Hello Angus,
Well ADI should be all done for now, with about 9 Mil in the bank that'll last at least through the winter, then plus some more. It really does all depend on the future funding requirements of both Yemen and Texas. If things aren't developed too quickly, profits from the current 6 wells will contribute nicely to the bank balance without it getting too eaten away.

Nice to see you're back taking some interest in ADI - It's not necessarily the poorer cousin to AUT. Not at all!

 

[estseon]

"I got an email back from ADI about the Kow - it's all still under consideration and as such they can't give an answer, but they hope to have it sorted out soon"

Thanks, Hatchy. The JVPs seemed to be still counting it but its still reassuring to hear.

You're just jumping the gun a little bit with Rancho. I'm sure that it will be good but it'll be nice to hear what it flows.

In view of the reduced payout times, ADI might have enough now to bridge cash requirements for further development of the S/L. That's assuming that Hilcorp do a ramp up not a pole vault. With 6 existing wells flowing and cash for another [8], the cash flow might well finance the future development from now.

 

[condog]

Esteon i hope they will drll a side track form where the broken garbage sits., id hate to see them wasitng capital fishing for too long or starting over.

 

[Ramblin Round]

My understanding of multi-stage fracs and why they aren't all done at once is twofold. I am probably wrong altogether but here's how I understand it:

One, they will actually flow too much and risk blowout. Two, it makes for a manageable producing well. Frac 4 stages of a 14 stage frac and produce X amount per day/month/year. When those flow rates are no longer favorable you can frac however many stages a decade later with re-entry to get back up to good flow. It's as if you can actually predict how long the wells can last on an Eagle Ford and manipulate it successfully a decade later.

Speaking of a decade later, someone is suppsoedly building a water pipeline through DeWitt to get the water down to may of those Karnes County wells to get ready to frac. Not sure where the water is coming from yet, but this leads me to beleive this isn't a 2-5 year project. This is at least a decade of research in the works here with another decade for the play.

 

[WRONG'UN]

Hi Ramblin - I hope you are not "probably wrong altogether", because it sounds like a great idea! The mind boggles at the thought of ten years production at rates that are comparable with the first year's, if this is what is achievable.

 

[Agentm]

Pioneer Natural Resources Continues Successful Eagle Ford Shale Drilling Program

Pioneer Natural Resources Continues Successful Eagle Ford Shale Drilling Program
DALLAS—-Pioneer Natural Resources Company today announced its fifth successful well in the Eagle Ford Shale in South Texas. The Chesnutt Gas Unit #1 well, which is located in Karnes County, Texas, tested at an initial production rate of 15.6 million cubic feet of gas equivalent per day on a 24/64 inch choke with approximately 5,600 pounds per square inch wellhead flowing pressure.

this well is pretty close to adi acreages

 

[adobee]

With some pain due in about 22 minutes what is the strategies for the ADI support team.. hold and buy ... sell and wait .. ? Even with all the oil in the world if we start round 2 of the GFC is anyone going to care ?

 

[Agentm]

adobee

if oil goes to $30 and below again then the play wont be economic, i imagine it would hibernate for a long period again, like in the last gfc and as much as any other small cap explorer in any of the resource sectors facing the price crash of their resource.

but the difference this time is that the jvp would have 5 - 6 completions fully completed and producing free carried in the AMI and a further number of wells for AUT in the extended acreages, thus far 2 are in completion.. so in the jvp favor would be revenues from the wells and the resource value of the reserves and acreage values, that may not see the jvp go to cash value as before, but this time they may stay at far higher values.. imho these valuations are expected to come through in the very near term after the completion of the free carried well program

if oil does not crash and burn, then the eagleford will be critical to texas and very economic, so full steam ahead for the jvp. if they have the cash to keep up with the forward plan i guess. if you dont have the cash and cant keep up then you can simply opt out of the wells that you wish to..

forward planning is what the jvp would be considering right now, but being mindful of the critical price of oil..

thats how i view the risks of a gfc 2 as you put it imho

as an investor i care a lot about the price, but i will take advantage of any good value shares that i can pick up should that occur..

 

[5haretrader]

It is getting ridiculous ey adobee. The market depth might tell differently but my instinct is to keep the faith and top up wherever possible.

 

[AngusSmart]

well i got my buy in this morning, and ouch!!

i changed by buy 5c below what i had planned yesterday and still got in

 

[5haretrader]

Well played Angus, there are some great buys out there today, if only I had the cash to top up

 

[Agentm]

It is getting ridiculous ey adobee. The market depth might tell differently but my instinct is to keep the faith and top up wherever possible.

Electronic Trading to Blame for Plunge, NYSE Says

lol

nice way to have a market rout.. maybe its not such a big rout after all