RE:RE:RE:When Oldnagger or any other SH members, I was wondering if you had built a list of reserves associated with Attachie, OakFlatrock, Tower as I didn't want to duplicate that effort if you did.
This is why I am asking. If the sale of any or all of those assets is going to significantly effect Crew's reserve report, then how will they replace those reserves?
If they want to add more Upper Montney "B" reserves which is their main target, then they will have to move away from their existing production base, drill more wells and build more pipelines. That can be expensive.
Another option as I have already mentioned is to simply attempt recompletions in other Montney zones and if successful they will add reserves under existing productive lands and infrastructure. Adding reserves via the other Montney zones would help replace any reserve decline from an asset sale.
This has caught my attention once again, as I noticed that Crew is currently drilling 3 more wells on the new 1-8 seven well Pad which will bring the total well count for that Pad to 10 with multiple wells targeting the same bottom hole locations.
If you add in the two unannounced wells being drilled from a Pad located at 12-9 which will land at the same bottom hole locations as the 1-8 Pad, then there will be 11 wells drilled there.
If we add these 11 wells to the 4 unannounced wells at the 4-17 Pad we are at 15 wells. Crew mentions 19 wells in the 2 year plan, with 4 of these being lease preserving which to my knowledge have't been spud yet.
From the 2 year plan press release Crew states: "Through 2021, Crew plans to invest between $120 to $145 million, allocated to drilling 19 wells and completing between 14 to 21 wells in the Greater Septimus area of northeast British Columbia ("NEBC"). Four of the planned wells are lease preserving wells, which will not be completed and hence will contribute to production through 2022."
The 15 wells drilled or drilling plus the 6 wells being completed at 3-32 would give us the 21 wells mentioned in their plan. They will likely have the drilling operations completed by break-up and can focus on completion operations this summer and fall. It appears that everything is heading in the right direction for Crew and us shareholders.