{"id":1937,"date":"2023-11-21T02:19:40","date_gmt":"2023-11-21T02:19:40","guid":{"rendered":"https:\/\/economicherald.net\/?p=1937"},"modified":"2023-11-21T02:19:40","modified_gmt":"2023-11-21T02:19:40","slug":"drilling-costs-reduced-by-whopping-40pc-at-botala-energys-five-well-serowe-gas-play-in-botswana","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1937","title":{"rendered":"Drilling costs reduced by whopping 40pc at Botala Energy\u2019s five-well Serowe gas play in Botswana"},"content":{"rendered":"

Cost of drilling Serowe\u2019s wells reduced by ~40% via simplified vertical well extraction techniques
\nSerowe-3.5 is the central production well for Project Pitse
\nPitse\u2019s resource can feed Botswana\u2019s Orapa gas plant for the next 20-years<\/p>\n

\u00a0<\/p>\n

Special Report: <\/em><\/strong>Results from Botala Energy\u2019s Project Pitse\u2019s Serowe-3.5 well in Botswana have intercepted 25m of highly prospective coal in the two upper coal seams. <\/strong><\/p>\n

Serowe-3.5 is the central well of the five-well system at Project Pitse and is pegged to be its first well into production.<\/p>\n

Pitse itself is Botala Energy\u2019s (ASX:BTE)<\/strong><\/a> first commercial pilot project within the Serowe coal bed methane gas project.<\/p>\n

It contains an independently certified 2C resource of 317 billion cubic feet (Bcf) based off five historical exploration wells that all intersected 24-40m of net coal, including the prospecting Serowe and Upper Morupule formations at a relatively low $220,000 average cost per well.<\/p>\n

BTE says this is enough to fuel Botswana\u2019s nearby Orapa gas power station for the next 20 years.<\/p>\n

Serowe 3.1 was spudded back in July 2021 and already has flowed gas to surface<\/strong><\/a>, <\/strong>proving that target coals have opened up and are now degassing \u2013 data vital for the continuing development of Project Pitse\u2019s other four wells.<\/p>\n

Flaring produced a peak flowrate of 42,000 standard cubic feet per day (scfd) and is still increasing in pressure, providing confidence that Pitse should \u201creadily achieve the target mid-case commercial flowrate\u201d for the five-well system of 70scfd \u2013 based on BTE\u2019s economic analysis.<\/p>\n

\u00a0<\/p>\n

Well sites at Botala\u2019s Project Pitse in Botswana. Pic supplied: (BTE).<\/p>\n

\u00a0<\/strong><\/p>\n

Serowe\u2019s latest<\/strong><\/h2>\n

Coals at Serowe-3.5 were drilled down to 476m and intersected 25m of net coal in the two upper coal seams. They were first encountered at 344m \u2013 17m higher than in Serowe-3.1, which is 350m to the north.<\/p>\n

Importantly, the cost to drill the wells has been reduced by a gigantic ~40% as BTE has confirmed that gas can be extracted from low-capex vertical wells.<\/p>\n

BTE CEO Kris Martinick says the most encouraging thing is not just consistent results but also the vast improvement in operational efficiencies.<\/p>\n

\u201cWe have reduced our drilling time from 42 days on the Serowe-2 well to now consistently completing drilling in 10 days and significantly reduced our drilling costs by around 40%,\u201d Martinick says.<\/p>\n

\u00a0<\/p>\n

What\u2019s next?<\/strong><\/h2>\n

Drilling and core collection through the Serowe-3.4 coal seams is set to commence prior to further production test drilling. BTE has subsequently mobilised a field lab to site for gas desorption and testing of the cores.<\/p>\n

The concept for Project Pitse is progressing to revenue-generating gas production and establishing a 20MW hybrid gas\/solar plant, designed to generate electricity for the Botswana power grid if gas flows confirm economic viability.<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>This article was developed in collaboration with Botala Energy, a Stockhead advertiser at the time of publishing.<\/em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

\u00a0<\/p>\n\n

This article was developed in collaboration with Botala Energy, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

\u00a0<\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

\u00a0<\/p>\n

<\/span><\/p>\n

The post Drilling costs reduced by whopping 40pc at Botala Energy\u2019s five-well Serowe gas play in Botswana<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Cost of drilling Serowe\u2019s wells reduced by ~40% via simplified vertical well extraction techniques Serowe-3.5 is the central production well for Project Pitse Pitse\u2019s resource [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1938,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nDrilling costs reduced by whopping 40pc at Botala Energy\u2019s five-well Serowe gas play in Botswana - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=1937\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Drilling costs reduced by whopping 40pc at Botala Energy\u2019s five-well Serowe gas play in Botswana - 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