Saturday, March 25, 2017

Chinook Energy Operational Highlights

Chinook Energy:


We completed, equipped and tied-in three (2.63 net) horizontal Montney wells at Birley/Umbach at an average cost to drill and complete of $3.7 million per well, a 30% decrease from the previous six (5.0 net) wells which averaged $5.3 million per well.

Including production from the following new Birley wells, our current production is approximately 5,350 boe/d.

A-071-F/094-H-03 (0.75 net) tested at a final rate of 1,288 boe/d (approximately 96% gas, 4% free condensate).

C-095-F/094-H-03 (0.90 net) tested at a final rate of 1,364 boe/d (approximately 88% gas, 12% free condensate).

D-095-F/094-H-03 (0.98 net) tested at a final rate of 1,094 boe/d (approximately 94% gas, 6% free condensate).

We have commenced construction of a new drilling pad to drill four (3.67 net) wells through spring break-up and will complete all four shortly after spring break-up.

Notice all of the wells are flowing at over 1000 boepd. This is greater than the company expected and confirms the that the company will beat its original production guidance of 6,100 boepd for 2017 with less wells drilled.

I bought more shares of Chinook Energy yesterday.

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