Estimated Average Realized Prices--2Q19 Oil (bbl) NGL (bbl) Natural Gas (Mcf) United States $57.25 $13.25 $0.55 International $68.50 $33.25 $3.00 Egypt tax barrels: 23-25 MBoe per day Realized gain on $13 million derivatives (before tax): Unrealized loss on $21 million derivatives (before tax): Dry hole
costs (before tax) $20-25 million http://investor.apachecorp.com/news-releases/news-release-details/apache-completes-midcon-asset-sales-provides-second-quarter
As reported in July, the Freke-Garm Main exploration well 15/6-15 was targeting prospectivity at the same levels, with pre-drill resources of 16-81 mmboe, but was abandoned as a dry hole
on June 2.
Guidance for 2019 production and operating expenses is $5.4 billion, which results in adjusted operating cost guidance of $6.1 billion; corporate segment net expense is $0.9 billion or $1.0 billion adjusted corporate segment net expense; depreciation, depletion and amortization is $6.3 billion; and exploration dry hole
and leasehold impairment expense is $0.2 billion.
Putat-1, located approximately 20km north of the Cili Padi gas field is confirmed as a dry hole
The exploration company, which owns a 25-percent share in the TAO well, confirmed that the dry hole
cost for the drilling "on a trouble-free basis" would cost $73 million, which is in line with a previous estimate.
This well, which is the first exploration well in PL330, is being plugged and abandoned as a dry hole
In "Top of the Rock," former NBC Entertainment prez Warren Littlefield's memoir of his two decades at the Peacock network, his boss of bosses, one-time GE chief Jack Welch, says that despite the hits developed during Littlefield's tenure, he was finally let go because management felt he'd become "a dry hole
With that much dry hole
, it always is difficult to clean the hole because mud outruns the cuttings.
Consequently, the dry hole
cost (DHC) will be $2.4 million lower than previously forecast.
Edinburgh-based explorer Cairn Energy has shut down its Delta-1 well after it failed to find oil - the third dry hole
it has drilled this year.
cost of the well is forecast to be US$400,000.
A search of Goggle Scholar indicated that this article had been cited 3166 times, clearly not a dry hole
. I mention this because Tiebout was clearly not a prolific writer and his other works received far less attention than this seminal article.