RE:RE:RE:What may Crew get from their 7 wells at West Septimus?Let’s not forget declines and conde decline faster than natural gas. The average Condensate production went from about 2,000 bbl/d in 2017 to 2,700 bbl/d in 2019. Slow pace considering so-called ultra condensate-rich area.
Q1/2020 saw a jump to 3,340 bbl/d then down again in Q2, because of restricted production due to low prices and also declines. In stronger hands the area would be producing twice as much but as we all know, CR is burdened by debt.
I see oil recovering above $50-$55 post Covid-19 when demand is restored to normal, hopefully by mid 2021. And hopefully, CR can raise more money by selling non producing and heavy oil assets and use proceeds to partially reduce debt and partially raise Condensate production in West Septimus.