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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (5837)	3/19/2014 9:35:04 AM
From: Goose94	Read Replies (1) \| Respond to of 203382

DEE-T new 52 week high, $2.78

To: Goose94 who wrote (5837)	6/2/2014 1:33:46 PM
From: Goose94	Read Replies (1) \| Respond to of 203382

DEE-T new 52 week high, $3.82

To: Goose94 who wrote (5837)	8/8/2014 6:45:31 PM
From: Goose94	Respond to of 203382

DEE-T accumulate on weakness.

To: Goose94 who wrote (5837)	8/28/2014 2:24:06 PM
From: Goose94	Respond to of 203382

DEE-T shy 5 cents of breaking into new 52 week high.

To: Goose94 who wrote (5837)	9/9/2014 5:17:26 PM
From: Goose94	Read Replies (2) \| Respond to of 203382

Delphi Energy (DEE-T) Sept 9, '14 is providing the following update. Bigstone Montney Delphi has completed its 10th horizontal Montney well, utilizing a 30-stage slick-water hybrid completion technique at 16-15-60-23 W5M. The 16-15 well (75-per-cent working interest) was drilled to a total depth of 5,903 metres with a horizontal lateral length of 2,949 metres and stimulated with a 30-stage slick-water hybrid completion. The well was produced on cleanup over a 10-day period, recovering approximately 22 per cent of the initial load frac water. The well was then 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 7.0 million cubic feet per day of raw gas and 311 barrels per day of wellhead condensate (44 bbl/million cubic feet of raw gas). Total production for the 16-15 well over the final 24-hour period was approximately 1,598 barrels of oil equivalent per day, including an estimated plant natural gas liquids yield of 36 bbl/million cubic feet of raw gas. Field condensate and plant NGLs represented 35 per cent of the total production. The 16-15 has recently been placed on production through the company's 100-per-cent-owned compression and dehydration facility. Delphi has completed drilling its sixth Montney horizontal well of 2014 at 3-26-59-23 W5M, located in the central part of the East Bigstone block. The well was drilled to a total depth of 5,593 metres with a horizontal lateral length of 2,601 metres. Completion operations, consisting of a 30-stage slick-water hybrid fracture stimulation, are expected to commence in the next several weeks. Delphi has concluded facilities and pipeline construction to equip and tie in the company's 12-17-59-22 W5M well, which was completed late in 2013. The 12-17 Montney horizontal well is the most southerly located well on the company's East Bigstone block. The well is expected to be on stream around mid-September. As a result of a pipeline connection completed by Delphi this past winter to SemCAMS K-west sour pipeline, Delphi is now delivering its Montney natural gas production to the SemCAMS-operated Kaybob South 3 (K3) gas processing facility. Natural gas processing of the company's Montney production at K3 is expected to result in improved field operating netbacks, due to lower processing costs and improved propane recovery. Acquisitions and disposition activity Delphi also announces two strategic Bigstone acquisitions and a minor non-core disposition at Hythe. Acquisitions The company has signed a purchase and sale agreement for the acquisition of 8.0 gross (3.5 net) sections of Montney rights, directly offsetting Delphi's current Montney production and recent drilling activity at East Bigstone for a purchase price of $8.8-million before closing adjustments. The assets include three gross (1.5 net) non-producing horizontal Montney wells that are tied in to Delphi's 100-per-cent-owned compression and dehydration facility. The three wells acquired on the lands were completed with a completion technique similar to that used by Delphi in the initial stage of its Montney development at East Bigstone. The lands acquired have an internally estimated drilling inventory of 13 gross (5.8 net) horizontal Montney wells, not including the redrilling of the three aforementioned wells. Delphi has also signed a second purchase and sale agreement for the acquisition of approximately 430 boe/d (87 per cent natural gas), consisting of 28 gross (20.4 net) producing natural gas wells and three gross (3.0 net) producing oil wells for a purchase price of $9.3-million before closing adjustments. The assets consist of 26.3 gross sections (19.3 net) of Cretaceous rights contiguous to the company's deeper Montney rights at West Bigstone. As part of the transaction, Delphi acquires approximately 40 kilometres of field-gathering infrastructure and a 100-per-cent working interest in an underutilized 15-million-cubic-foot-per-day sweet shallow-cut natural gas processing plant. The company's initial exploratory horizontal Montney test well at West Bigstone currently produces to this natural gas processing plant. In addition to providing Delphi with direct-to-sales infrastructure for future Montney development at West Bigstone, the asset also contains opportunities in the Cretaceous Gething formation, analogous to the company's horizontal Gething well at 12-16-60-23 W5M. Since commencing production in 2012, with an average initial production rate over the first 30 days of 772 boe/d (87 per cent natural gas), the 12-16 well has produced approximately 1.1 billion cubic feet of raw natural gas, and 27,000 barrels of field condensate and gas-plant-recovered natural gas liquids. Disposition At Hythe, Delphi has signed a purchase and sale agreement with a third party to sell certain interests from its Hythe property. The disposed assets currently produce approximately 430 boe/d (55 per cent natural gas) from 12 (10.6 net) oil wells and four (4.0 net) gas wells. The disposition price of the asset, consisting of 23.3 gross (17.7 net) sections of primarily shallow Cretaceous rights, is $17.2-million before closing adjustments. These assets do not currently attract capital from the company's spending plans, due to the superior economics of the company's Montney development at Bigstone, and were completed to substantially finance the acquisition of assets mentioned above that increase the opportunities of Delphi's Montney development at Bigstone. The disposition process of the company's Wapiti assets continues. The purchaser requires an extension to the previously estimated timelines for execution of a purchase and sale agreement, and subsequent closing. Negotiations of revised timelines are in progress. The disposition continues to be subject to a number of conditions precedent, and as such, there is no assurance that a binding agreement will be achieved or that the prospective transaction will be consummated. Outlook The company maintains its production guidance of 10,000 to 10,500 boe/d on average for 2014 and exit production of 11,500 to 12,000 boe/d. Delphi's Montney production was curtailed in August as a result of repairs to a third party natural gas liquids pipeline. Additionally, scheduled gas plant turnaround maintenance will impact production at the company's Wapiti property in September, resulting in a third quarter production estimate of 9,300 to 9,600 boe/d. With Delphi's Montney production back on, current corporate production is approximately 11,500 boe/d. The company has realized significant gains in spud-to-spud cycle times of its horizontal Montney drilling program at Bigstone. The accelerated drilling times have allowed the company to increase its drilling activity in 2014 by up to two additional horizontal Montney wells in Bigstone. On-production dates for these two wells will be at the end of 2014 or early in 2015 and will not materially impact the company's production guidance for 2014. This will increase the company's estimated capital expenditures by approximately $20.0-million to a total estimated expenditure of $90.0-million to $95.0-million. Total debt at year-end 2014 is expected to be between $165.0-million and $170.0-million.