GNE - Genesis Energy

[kiora]

Is this the one everyone has been looking for?
https://www.benzinga.com/startups/23...m_content=site
https://wefunder.com/airthium?utm_so...hium&utm_id=a1

[mwri]

Is this the one everyone has been looking for?
https://www.benzinga.com/startups/23...m_content=site
https://wefunder.com/airthium?utm_so...hium&utm_id=a1

Some company or University comes out with some great new battery that will solve everything every other month it’s just about what’s scalable and realistic which you can only know with time but it will get there

[Sideshow Bob]

https://www.nzx.com/announcements/414965

http://nzx-prod-s7fsd7f98s.s3-websit...965/398784.pdf

Continued strong hydro conditions in FY23 Q4 drove lower carbon emissions and reduced portfoliogeneration costs. Customer numbers continued to grow, with 3,779 customers gained in the quarter.Malcolm Johns, Chief Executive said, “Genesis continued to perform well through the final quarter ofthe year. We know that the current hydro conditions will eventually change but it was pleasing to seethat Genesis can respond to market conditions to reduce carbon emissions and generation costs.”

[xafalcon]

Can someone with an NBR subscription please post a copy of this article? It seems to suggest Kupe may contain significantly more oil reserves than current projection

https://www.nbr.co.nz/investment/kup...ays-geologist/

[Sideshow Bob]

Can someone with an NBR subscription please post a copy of this article? It seems to suggest Kupe may contain significantly more oil reserves than current projection

https://www.nbr.co.nz/investment/kup...ays-geologist/

No access to the article, but this was in Beach's latest quarterly, about a week ago:

Development
Preparations continued for drilling of the Kupe South 9development well. The Valaris 107 rig will soon mobilise to site, with spudding in late Q1 FY24 targeted. If successful, Kupe South 9 will materially increase well deliverability for the Kupe Gas Plant. First gas in Q3 FY24is targeted.

[xafalcon]

No access to the article, but this was in Beach's latest quarterly, about a week ago:

Development
Preparations continued for drilling of the Kupe South 9development well. The Valaris 107 rig will soon mobilise to site, with spudding in late Q1 FY24 targeted. If successful, Kupe South 9 will materially increase well deliverability for the Kupe Gas Plant. First gas in Q3 FY24is targeted.

Thanks Bob.

I'm very keen to read that NBR article as the headline was something like "geologists speculate over potential for additional 1 billion oil bbl"

NBR is a well respected source, so it could have a material impact on GNE value if significant oil reserves are found

[Snow Leopard]

Thanks Bob.

I'm very keen to read that NBR article as the headline was something like "geologists speculate over potential for additional 1 billion oil bbl"

NBR is a well respected source, so it could have a material impact on GNE value if significant oil reserves are found

But not like $24.95 subscription keen?

[Nor]

The Kupe oil and gas field off Taranaki could contain further oil reserves worth billions of dollars and a potential huge upside for part-owner Genesis Energy, says an experienced petroleum geologist.

Mark Webster of exploration consultancy Kauri Oil & Gas says his analysis has identified two “bypassed” opportunities in the Kupe area with combined potential reserves of 1 billion barrels.

The likely presence of the reserves could be established with pressure tests of existing wells as part of the current drilling programme due to begin at Kupe late this year, he said.

“My concern [is] that Genesis would sell their interest without understanding the true value,” he said.

Genesis uses its 46% Kupe stake as a source of secure gas supply and in February confirmed it had received offers for the asset, although it said they were too low.

Analysts at Forsyth Barr have argued Genesis would be better off giving away its Kupe stake than continuing to own and invest in the field.

The other owners are operator Beach Energy with 50% and NZ Oil & Gas with 4%.

Fault valving
Webster, a former gas exploration manager at Genesis who was involved in previous drilling at Kupe, said a geological mechanism in the Taranaki Basin known as fault valving could lead to some oil and gas reservoirs being underpressured.

Historically drilling mud was used to control pressures in a well, changing the chemical components in the mud to adjust its hydraulic strength.

“In a basin like Taranaki where there’s a lot of faults connecting different zones you get very variable pressures, so they would be drilling and holding the mud rate for a reservoir at one pressure and then drilled into an adjacent reservoir at a lower pressure regime, and suddenly the mud rate is much higher than the reservoir pressure and so it forces its way into the reservoir, pushes back the oil and gas, and you see little or any of it,” said Webster.

“To find those zones you have to specifically target them, so that you drill into them what we call ‘on balance’ – at the equivalent pressure or less so that you see the hydrocarbon in the reservoir.”

Webster said he had contacted Genesis, Beach and NZ Oil & Gas but had received little response.

“All I’ve been asking for is to get someone else you trust to look at it and see if they think it’s valid. They’ve just blanket refused to consider that.”

[xafalcon]

Thanks Nor. It seems the headline was clickbait, and the article was promoting a single ex-employees opinion. Maybe it's a sound opinion, but unlikely to move the market. And it doesn't appear like the field owners have taken it seriously, which is kind of telling

[Onemootpoint]

Thanks Nor. It seems the headline was clickbait, and the article was promoting a single ex-employees opinion. Maybe it's a sound opinion, but unlikely to move the market. And it doesn't appear like the field owners have taken it seriously, which is kind of telling

The geologist is Mark Webster of exploration consultancy Kauri Oil & Gas. I may be wrong but I think it is a ‘one man show’.


For good or ill, Kauri Oil & Gas tend to have a ‘positive’ outlook on NZ oil but one would think Genesis would know what they are doing.