St. Martin well latest project news from our operator !
We will be sending out work reports and a breakout of money spent to date for review and better understanding of costs incurred.
The AFE had overages due to unanticipated need to (1) fix hole in the casing; (2) replace tubing joints with holes; (3) wellhead issues and (3) costs to fish the tubing testing tool.
We are currently pulling together requested information to forward to the Insurance Adjuster- The Adjuster is also scheduled to be in Lafayette to visit with us next Thursday.
Will keep you apprised of our progress- and will forward a more detailed email package of costs with explanations.
The February 15th Settlement Statements should cover almost all (if not all) of the invoices for work incurred to date. Unfortunately, we have to pay our Vendors for work performed (regardless of our work with the insurance company)- and to keep the insurance claim moving forward.
The rig time, etc. tied to the work fishing the tool is part of the insurance claim- and we do not plan to pay the Tubing Tester Company for any time charged during the fishing operation.