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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (2390)11/27/2013 4:34:05 AM
From: Goose94Read Replies (1) of 202784
 
Delphi Energy (DEE-T) 15-30 Montney well tests at 2,953 boe/d

Nov 26, 2013 - News Release

Delphi Energy Corp. has provided the following operations update on its Montney capital program.Delphi has completed and tested its fourth consecutive horizontal Montney well utilizing a 30-stage slickwater hybrid completion. The first three Montney wells at East Bigstone stimulated with the same 30-stage slickwater hybrid fracturing technique continue to exceed the company's type well expectations.

Delphi's 100-per-cent working interest 15-30-60-23W5M Montney well was drilled to a total depth of 5,834 metres with a company record horizontal lateral length of 3,014 metres. The well flowed on cleanup over 5.6 days, recovering approximately 27 per cent of the initial load frac water, and is now shut in to equip and pipeline connect the well for production. After running production tubing, the well produced, over the final 24 hours, at an average rate of 9.4 million cubic feet per day of raw gas, 1,250 barrels per day of wellhead condensate (133 bbl/million cubic feet of raw gas) and approximately 900 bbl/d of load frac water. For comparison purposes, Delphi's best Montney producer to date, at 10-27-60-23 W5M, produced at an average rate of 8.8 million cubic feet per day of raw gas and approximately 750 bbl/d of wellhead condensate (85 bbl/million cubic feet of raw gas) over the final 24 hours of its 4.5-day cleanup test (previously press released on Feb. 28, 2013). The 10-27 well has produced 286,000 barrels of oil equivalent (111,000 barrels of total natural gas liquids, 65 per cent of which is field condensate) since coming on production in March, 2013.

Total production for the 15-30 well over the final 24 hours of the 5.6 day cleanup flow, including additional estimated gas plant NGL recoveries of 33 bbl/million cubic feet of raw gas, was approximately 2,953 barrels of oil equivalent per day (53 per cent field and plant NGL). The well is expected to commence production in December and consistent with the previous slickwater fracture stimulated wells will continue to recover load frac water over the next few months.

The 15-30 well was drilled across two sections in 30 days and set a record low Montney well cost for Delphi of $4.85-million. Drilling times for the company's Montney wells have decreased 35 per cent and drilling costs have been reduced by 25 per cent since the beginning of the Bigstone Montney program.

Drilling operations continue in East Bigstone with three gross (2.7 net) additional wells planned to be drilled prior to breakup in 2014.
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