guess the wells are alot better than the neighbors
March 15, 2018 - 02:43 AM 185 Reads
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Very good result
In my opinion this was a very good result. The shallower levels in the Chincontepec formation are complex and from the research I have done, Pemex and various other contractors and companies have not been able to figure it out. Latina Corp which has the Pitepec block just North of the Amititlan block (ROI has an option to acquire 50% of that block) has drilled 21 wells since 2016 in the shallower formations and has reached a production level of 1,075 Bopd, or an average of 51 Bopd per well.
Since this is the first well completed by ROI they won’t know the decline rate. We don’t know how this well was drilled, directional drilling can mean many things and fracking a well can be done in many methods. I would expect what ROI has done will not become public knowledge.
I have not been able to get information on the depth of the well, but the ten wells are to be shallow ones. At this production level there should be a payback within 8 months based on the costs they have incurred.
The big prize is supposed to be in the Upper Jurassic formation and they expect to be drilling the first exploration and production well into that zone in the first half of this year. From their website ROI indicates it will be an exploration well, but also a first, horizontal, fracked, production well with an estimated 1200 Bopd. All of these wells at both levels will be providing key information for future drilling.