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Monday, January 10, 2022 6:21:59 PM
A. Zion has been actively moving forward, and thankful that we have completed our planned logging operations. [logging is done before flow and pressure testing, so they have not started yet; no flares of any duration yet, and no tanks filled with oil yet]
B. After reviewing these logs, our third-party engineering group has recommended bringing in specialized completion liners for the next steps and for the indicated zones of potential production. [completion liners can be used to test zones that are not cased yet, but those test zones need to be isolated from other zones. The liner is perforated where the test needs to be done and the liner can stay for production, hence it was referred to as a "completion liner".]
C. We are also moving ahead with entry requirements for our additional completions and testing crew. To this end, additional tubing and ancillary items have also been procured and are in the shipping process. [additional completions sounds encouraging even though its not clear exactly what is meant. Generally there are three phases in bringing a well online:
1. Drill, then if shows and logging look good go to step 2
2. Test with additional logs, flow and pressure; attempt to size the reservoir, and if that looks good go to step 3
3. Complete the well for production.
So, use of the completion phrase conveys confidence. Sounds like Zion intends to set up completion for testing with an eye towards eventual production.]
D. Operating environments are continually changing with covid restrictions and guidelines. We are working with the necessary governing bodies to navigate these challenges. [these are crazy times and I can appreciate to some degree what Zion is going through because I have challenges running my business in this environment.]
All around very encouraging that progress is being made, but it also indicates that if logs are just now interpreted and plans being made based on that interpretation, then it's going to be awhile before the commercial or not announcement is made. Zion is in step 2 and has completed the specialized logging in that step and is now preparing for the flow and pressure tests. I would guess that commercial or not will be announced when step 2 is done, and before serious work begins on step 3 (completion). It will be interesting tomorrow to see the market response to Zion's first report of installing completion gear.
More on liners can be read here:
http://www.ingenieriadepetroleo.com/liners-well-completions/
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