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What we can expect in CA? In the neighborhood and how it works....... Operational Update from September 13, 2018 press releaseOperational Update from September 13, 2018 press release InPlay continues to realize strong results from its high impact Cardium development program in the greater Willesden Green area. By targeting the bioturbated Cardium within the Willesden Green area, InPlay’s well results continue to exceed internal type curve estimates and show some of the best initial production results to date of all Cardium wells drilled in the area. The following is a summary of results from the three 1.5 mile InPlay horizontal wells drilled on our newly acquired lands that were placed on stream in the third quarter and which have a minimum of thirty days of production (all production results based on field estimates). > The first horizontal well (1.0 net) had an initial production rate (“IP”) IP 30 of 767 boe/d (86% light oil and liquids). > The second horizontal well (0.2 net) on production had an IP 30 of 1,002 boe/d (82% light oil and liquids). > The third horizontal well (1.0 net) came on production in August and had an IP 30 of 336 boe/d (90% light oil and liquids) is continuing to clean up and currently producing an average of approximately 427 boe/d (89% light oil and liquids) in September. InPlay’s first horizontal Duvernay well (1 mile lateral) was completed in May 2018. The typical clean-up phase of horizontal Duvernay wells is generally characterized by an extended clean-up period whereby oil cuts as a percentage of produced fluids tend to increase as injected frac fluids are recovered from the reservoir. InPlay is pleased to report that the behavior of the Company’s first well to date is consistent with successful offsetting wells drilled in the area. Upon completion, InPlay allowed the well to flow back for a period of six weeks with oil cuts increasing to approximately 25%. Following the initial flow back, InPlay shut the well in for a six week soak period intended to support the clean-up phase and increase produced oil cuts as performed by leading offset Duvernay operators in the Huxley sub-basin. As anticipated, the soak period has translated to a continued improvement in oil cuts which have averaged 40% over the past 10 days while producing at an average rate of 165 bbl/d of oil based on field estimates. The trend in increasing oil cuts is consistent with trends observed in offsetting wells in the area which tend to ultimately reach a stabilized oil cut between 70% to 90%. The Company continues to closely monitor all activity around our lands. Initial results suggest that our Crown land position in this area will lead to a valuable long term light oil resource play. InPlay plans to continue to follow a conservative development program at a measured pace over the near term. InPlay continues to realize strong results from its high impact Cardium development program in the greater Willesden Green area. By targeting the bioturbated Cardium within the Willesden Green area, InPlay’s well results continue to exceed internal type curve estimates and show some of the best initial production results to date of all Cardium wells drilled in the area. The following is a summary of results from the three 1.5 mile InPlay horizontal wells drilled on our newly acquired lands that were placed on stream in the third quarter and which have a minimum of thirty days of production (all production results based on field estimates). > The first horizontal well (1.0 net) had an initial production rate (“IP”) IP 30 of 767 boe/d (86% light oil and liquids). > The second horizontal well (0.2 net) on production had an IP 30 of 1,002 boe/d (82% light oil and liquids). > The third horizontal well (1.0 net) came on production in August and had an IP 30 of 336 boe/d (90% light oil and liquids) is continuing to clean up and currently producing an average of approximately 427 boe/d (89% light oil and liquids) in September. InPlay’s first horizontal Duvernay well (1 mile lateral) was completed in May 2018. The typical clean-up phase of horizontal Duvernay wells is generally characterized by an extended clean-up period whereby oil cuts as a percentage of produced fluids tend to increase as injected frac fluids are recovered from the reservoir. InPlay is pleased to report that the behavior of the Company’s first well to date is consistent with successful offsetting wells drilled in the area. Upon completion, InPlay allowed the well to flow back for a period of six weeks with oil cuts increasing to approximately 25%. Following the initial flow back, InPlay shut the well in for a six week soak period intended to support the clean-up phase and increase produced oil cuts as performed by leading offset Duvernay operators in the Huxley sub-basin. As anticipated, the soak period has translated to a continued improvement in oil cuts which have averaged 40% over the past 10 days while producing at an average rate of 165 bbl/d of oil based on field estimates. The trend in increasing oil cuts is consistent with trends observed in offsetting wells in the area which tend to ultimately reach a stabilized oil cut between 70% to 90%. The Company continues to closely monitor all activity around our lands. Initial results suggest that our Crown land position in this area will lead to a valuable long term light oil resource play. InPlay plans to continue to follow a conservative development program at a measured pace over the near term. |
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Msg # | Subject | Author | Recs | Date Posted |
3904 | Re: What we can expect in CA? | Lastonestanding | 0 | 9/20/2018 11:34:19 AM |