Re: It is not the end of the Makó gas dream - dirtyboots
in response to
by
posted on
Nov 05, 2009 12:14PM
Developing large acreage positions of unconventional and conventional oil and gas resources
I don`t see any reason for Falcon to pay in unitization currency or any other,even renegotiating the contract does not seem to me the sore point.
It was EXXON being the operator botching up the well.If they couldnt do better than presented this year,why should they make Falcon pay for their own inability.
In defiance of all the advantages EXXON could start with in the field,it is now proven for sure ,that they could not top or even come close to the results Falcon was featuring 2 or 3 years back in time.
As the Gas is proven to be down there,EXXON is to blame.They had a lot of time to study previously drilled wells with significant amounts of datas of drilling,fracing and seismics to find out a way matching the wording of their present commercial (CNBC) about:
"difficult to produce tight gas in Europe with EXXON s technique"........
As long as EXXON is much more in the dark than Falcon in terms of producing seizable success,they are not in the position to ask for anything.
Water and H2S is embedded in most formations on the globe and nothing unusual in this business.To drill or frac into it could happen,but its not the fault of the formation,its the fault of the operator who seems not to be up to date with the state of the art.