Aminex Share Discussion Threads

[ngms27] 26/9/2016 08:01

I found the specs on Google from 2011 of all the Caroil rigs at the time of the sale to the Canadian outfit. Definately same specs and same upgrade.

[blackgold00] 26/9/2016 07:30

ngms where did you find the specs for the Caroil-6 rig? in any case C-6 was up for the job when they drilled the Ntorya-1 well.



"After running a 7-inch liner to 2,750 metres, the well was deepened to a final total depth of 3,150 metres and wireline logging was carried out. Although encouraging gas readings were recorded over a 300 metre interval from 2,850 metres to TD, a deeper target horizon identified on seismic at approximately 3,000 metres was found not to have reservoir potential."

[ngms27] 25/9/2016 18:05

Caroil #2 is the same spec as the now retired Caroil #6 rig

[warbaby43] 25/9/2016 08:05

A quick window on some of the Big Ones:



There is hope for the country though:

[edgar222] 24/9/2016 15:35

BlackgoldDo the tractors have the valves we need for Bun's distribution scheme?

[bunbooster2] 24/9/2016 12:40

Does anyone have any pictures of the rig as well as in depth technical specs? Does anyone know what kind of tractors will be used for the transport?

[flyingswan] 24/9/2016 08:49

There is some details of Caroil-2 Rig on this link:


And this from Linkedin:
Odyek One to Ogoung CarOil rig move.
March 2013
This is a deep well rig,CarOil 2 is a very big rig,the biggest in Uganda at the moment,it moved from Odyel to Ogoung where it is now.
I worked on it as Site Lifting Supervisor/HSE Marshal on both the loading & later the offloading site.it was simple perfect with no Incident or Near Miss recorded during the entire move.
Plan the entire rigmove,from writting the risk accessment,JSA,PTW,Lifting plans.
-Then monitoring the entire rigmove Loading process.
-Training the entire crew on safe lifting & Hse related issues.
-No single incident has been recorded on my supervised sites.
-CarOil was very impressed with the speed & Accuracy with which the job was done

[warbaby43] 24/9/2016 07:58

And, if my memory serves me correctly again, dear old Caroil-6 was also used further back still at Nyuni, though rigs can have a life of decades.

What I do have clear memory of though, is Our Hero declaring some while back in one of his video interviews, that a superior rig with higher drilling speeds was desired for what was then identified as N-2 so, hopefully, Caroil-2 will be meeting those specs. If, of course, my memory can dredge up when that video was, I will put up the link.

[blackgold00] 24/9/2016 04:09

Had a little operation on my knee yesterday, a bit sore but all went well should be running around like a spring chicken in no time.
So we have signed the contract for the Caroil 2 drilling rig. that is the same rig that was last used by M&P/Wentworth for their MB-4 development well which was drilled 31 March 2015, and after completion must have been moved to the N-2 site in anticipation of further contractual drilling/storage.



"The Company will provide an update after drilling
operations have been completed. Wentworth has a 31.94% net interest in
this well, which is being operated by Maurel et Prom and drilled with
the Caroil #2 drilling rig."

When Aminex drilled the N-1 well back in December 2011, they used the the Caroil-6 rig.



"Ntorya-1 will be drilled as a vertical well to a planned total depth of 2026m, using the Caroil-6 rig and is expected to reach the main target in around 30 days from spud."

So i suppose if the Caroil-2 rig was good enough for M&P MB-4 well then it should be ok for the N-2 well. Looking on the Caroil Operation site i can't see the Caroil-6 rig listed, so maybe that rig finally did rust out.

[ngms27] 23/9/2016 17:46

Peter, my thoughts exactly but it's strange that it was left in the NT-1 compound don't you think given the conflicts of interest?

[greyingsurfer] 23/9/2016 17:24

44 of the Prospectus advises us that their share of N-2 drilling cost is estimated to be $7.63m and of N-3 $8.99m or $16.62m in total for AEX or $22.15m in total for what are essentially back-to-back wells. A great deal more than past guestimates from some of the cognoscenti on here when taking account of a truly depressed rig market.

There might well be a rather cynical view of why the costs might indeed be somewhat inflated and, should that viewpoint be accurate, I would certainly not be one to object.

What cynical view is that WB? If you are going to make presumably wild accusations you could at least come out with them for all to see?

Remember whatever they pay for the rig - which is owned by Caroil, a totally owned subsidiary of M&P, so I can see no reason for assuming anything other than straight commercial terms - will be a relatively small part of the total cost. As ngms has said a lot of the mobilisation will be distance independent - it certainly helps having it near and ready - but once there it still has to be set up tested etc. Then there are significant costs involved in the drilling process itself.

Also if you remember back to earlier drilling programs there were significant delays and costs in getting rigs to be both available and to the site. If you look at Caroil's site it appears that they have now adopted a policy of keeping a rig available in Tanz. M&P themselves have done, and presumably will do more, onshore drilling. AEX has and will, and it's likely others will in the future - so it's policy that makes sense (particularly since M&P own it). Having looked at the connections, and realised that it has not been sitting unused the whole time since AEX last used it, also leads to the conclusion that there is little reason to assume particularly favourable rates. All the more so since if M&P share your concerns about near/mid term gas demand you could argue they would be unlikely to do anything to make it easier and cheaper than they have to for AEX to drill!

Peter

[bunbooster2] 23/9/2016 16:09

ngms - link not working. I get a 404 error (running windows 10, edge browser).

15 days? How many metres per day is that over 1.5km? Is that industry standard?

[ngms27] 23/9/2016 16:07

It also seems M&P owned Caroil SAS as a subsidiary, sold out to Tuscany in 2011 then bought out Tuscany in 2014. All rather weird!

So I think M&P currently own Caroil 2 which was stored at the AEX NT-1 site and is going to drill NT-2. It would be interesting to see what the commercial arrangements are/were...

[ngms27] 23/9/2016 16:00

It took 15 days to move in the past, though this move is much nearer: hxxp://www.alistairgroup.com/case-studies/rig-move/

I'd think it will take longer to get the well up and running and certified given the long in activity period.

It looks like the Caroil 2 is the same spec as the now retired Caroil 6 to me.

[warbaby43] 23/9/2016 15:51

Incidentally, very surprising that there has been so little interest/comment/speculation on this condensate factor contained in the H-1 Report:

"The well is currently producing at 15 to 25 mmcfpd with approximately 150 bblsd of condensate."

- Was it actually expected?

- What price will AEX receive?

- Will it be benchmarked (against Brent?)

- What will be shipping arrangements?

- Will 150bblsd be a spur to TPDC to get on towards full production at KN-1?

At $45 150bblsd equates to $2,457,000 pa, a handsome contribution to costs and a useful income even when split between TPDC and the partners especially when two of them are as perpetually skint as AEX and Solo.

[warbaby43] 23/9/2016 15:13

"I hope they got a good price on it since AEX would seem to be the only likely customers."

P44 of the Prospectus advises us that their share of N-2 drilling cost is estimated to be $7.63m and of N-3 $8.99m or $16.62m in total for AEX or $22.15m in total for what are essentially back-to-back wells. A great deal more than past guestimates from some of the cognoscenti on here when taking account of a truly depressed rig market.

There might well be a rather cynical view of why the costs might indeed be somewhat inflated and, should that viewpoint be accurate, I would certainly not be one to object.

[warbaby43] 23/9/2016 14:52

My memory might be playing me false but wasn't it good ol' Caroil-6 that drilled N-1 and didn't Our Hero, somewhere along the way, indicate that they wanted an altogether superior rig for N-2/N-3?

[cinques] 23/9/2016 14:41

Thank you for the replies.

[greyingsurfer] 23/9/2016 14:04

How long has the rig being parked at NT-1?

thanks in advance

ngms2723 Sep '16 - 12:38 - 58147 of 58148 1 0
Since NT-1 operations completed! So that's 3 to 4 years hence my comments about recommissioning time and whether some of the BoD have a commercial interest in the rig.

In fact that's not true, though I have to admit I thought so myself till very recently. The rig has been used at least once since then - by M&P/Wentworth on the MB-4 well:
hxxp://www.oilandgastechnology.net/pipeline-news/tpdc-completes-construction-tanzania-natural-gas-pipeline

Peter

[pj 1] 23/9/2016 12:48

Will AEX drilling be a catalyst......for the return of SueYou? :-0

[ngms27] 23/9/2016 12:38

Since NT-1 operations completed! So that's 3 to 4 years hence my comments about recommissioning time and whether some of the BoD have a commercial interest in the rig.