Parsad Posted November 24, 2010 Share Posted November 24, 2010 Matt Miller, along with Joe Koster, are the tandem analysts at Chanticleer Holdings. Matt put together a terrific paper on Akita Drilling. Enjoy! Cheers! Link to comment Share on other sites More sharing options...
Uccmal Posted November 24, 2010 Share Posted November 24, 2010 Awesome article. Thanks. Link to comment Share on other sites More sharing options...
woodstove Posted November 24, 2010 Share Posted November 24, 2010 Yes, thank you - very interesting. Link to comment Share on other sites More sharing options...
beerbaron Posted November 25, 2010 Share Posted November 25, 2010 I have trouble understanding what's the advantage of Pad Rigs to conventional ones. Can someone explain? BeerBaron Link to comment Share on other sites More sharing options...
woodstove Posted November 25, 2010 Share Posted November 25, 2010 I'm no expert, but I believe pad rigs are used when several holes are to be drilled in close proximity. The rig is self-mobile, and can crawl around on a prelaid concrete pad. A conventional rig has to be moved, between widely spaced drilling locations, and there are costs, as well as issues with roads (cannot move during soft-roadbed times of year, eg spring). Pad rigs can achieve higher utilization rates, or seen from perspective of the customer, lower total cost per quantity of drilling performed. Would appreciate additional clarification from someone who knows their stuff; the above is just what I've gathered from misc reading. Link to comment Share on other sites More sharing options...
turar Posted November 25, 2010 Share Posted November 25, 2010 Another article that may of interest in connection to this: http://oilandgas-investments.com/2010/latest-reports/2012-outlook-for-canadian-natural-gas/ Quote: Western Canadian gas exports to the United States could be completely displaced into Northern California by 1. Abundant, low cost US natural gas production, and 2. By several new gas pipelines in the US… Says a new market study by Bentek, a US energy analysis company. Link to comment Share on other sites More sharing options...
SharperDingaan Posted November 25, 2010 Share Posted November 25, 2010 PAD rigs have an advantage in shallow shale fields where the formation is tight & you want a lot of holes drilled cheap, in fairly close proximity, & where they can be easily fract. Alternative directional drilling is more costly & really more cost effective at the medium & deeper depths. The good news is that shale fields deplete quickly, & the more holes the higher the depletion rate; to keep up production you have to keep drilling. Low gas prices may highlight their competitive advantage, but they also reduce the size of the industry drilling budget & increase competition. At some point they will entertain a take-out bid. That said, they like what they do, they do it well, & there is no compelling rush. SD Link to comment Share on other sites More sharing options...
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