IAE IACAF Stella reserve
Here is a calculation for Stella courtesy of Captaincam on investor Village.
If he is right we are all going to be happy campers. As a reminder the present Stella 2P Reserve is 11 MMBOE with a potential of 61 MB of oil in place. So a reserve of 425 MMBOE recoverable would be a huge jump.
Also remember the fow rate for the test well was 2850 BOPD and that number was greatly limited by the equipment they had available on the rig.
Blue sky ahead.
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Re: The dome
Public Heel,
I apologize to readers for my faulty mental arithmetic, a good thing I have retired as an engineer. I think I may start writing children's stories?
My point still stands, though, the capital investment to develop the Stella Ekofisk chalk reservoir may be beyond Ithaca's current financial capability and thus they might want to keep tangible information close to their chests.
To get Original Oil In Place (OOIP) multiply reservoir volume by porosity times (1-water saturation) times oil shrinkage factor times the conversion factor from cubic feet to barrels times net to gross pay ratio.
Porosity in the chalk can vary from 5% to 25%(.05 to .25). Average 15%(my estimation only)When I find the link for these estimates I will post.
Water Saturation is probably around 20% (.2)
Oil Shrinkage Factor (Bo in Reservoir Engineering convention)- Approximately 0.8 for a 39 API gravity crude.
Conversion Factor barrels per cubic foot - .177
Net to Gross Pay ratio - .8 (my estimation only)
66 billion cuft x.15 x (1-.2) x .8 x .177 x .8 = .897 Billion barrels.
or about 900 million barrels. Associated with the oil will be about 2000 cu ft. per barrel of gas of which maybe a quarter will be produced or 450 Bcf.
At 6 Mcf/bbl gas equivalent 75 MMBOE recoverable.
At 40% recovery factor for the oil 350 MMbbls
Total recoverable reserves approximately - 425 MMBOE. Close to my original estimate based on an area ratio of Stella Ekofisk to Ekofisk actual recovery.
By the way, the Ekofisk complex of reservoirs is no more than 50 miles away from Stella.
AIMHO, Cheers!
Captaincam.
