To: Goose94 who wrote (30900 ) 6/14/2017 7:58:02 AM From: Goose94 Read Replies (2) | Respond to Yangarra Resources (YGR-T) budget, its production guidance and its expectations for its Cardium wells. The company had already said it would update its Cardium well models, or type curves, following the completion of a recent 10-well program, for which it used different drilling and completion techniques. It started this program last August and had all 10 wells on production as at the end of April. Based on the results, Yangarra is now forecasting "better initial flow rates, higher pressures and lower-than-expected declines," as it trumpeted this morning. As an example, the 90-day initial production rate (IP90) forecast is now 425 barrels of oil equivalent a day, whereas past wells had shown IP90 rates of closer to 300 barrels a day. Yangarra has increased this year's budget to $70-million from $50-million so it can keep drilling steadily in the Cardium. It has also increased its full-year production guidance to a range of 5,500 to 6,000 barrels a day from a range of 4,500 to 5,000 barrels a day. By comparison, it averaged just 2,950 barrels a day in 2016.
