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Rubellite Energy Inc T.RBY

Alternate Symbol(s):  T.RBY.WT | RUBLF

Rubellite Energy Inc. is a Canadian energy company. The Company is engaged in the exploration, development and production of heavy crude oil from the Clearwater formation in Eastern Alberta, utilizing multi-lateral drilling technology. It is developing its pure Play Clearwater asset base in Eastern Alberta utilizing multi-lateral drilling technology. It has over 140 net sections of land prospective for Clearwater heavy oil exploration and development. Its operations include Ukalta, Figure Lake and Marten Hills. The Ukalta is located approximately 55 miles northeast of Edmonton. It has a 100% working interest at Figure Lake. It has accumulated close to 85 sections of land prospective for the Clearwater play in the Figure Lake area. It is actively developing its three sections of land at Marten Hills.


TSX:RBY - Post by User

Post by Justformeon Jan 07, 2024 5:18pm
339 Views
Post# 35814804

Decent Potential/Poor Execution

Decent Potential/Poor Execution Rubellite has been able to drill some decent wells recently but the poor execution and lack of experience at the field level is really hurting the results. This group is mostly made up of people from natural gas operations that are not familar with heavy oil production and the amout of money being spent on workovers, wells being shutin due to too many workovers due to inexperience is brutal. I guess if you hide all the high opex under capex you end up with the high drill/completion costs
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