RE:Results are out
The results at Gold Creek could have been better for sure. I wonder if they will drill further North West to test that area as well. Waskahigan really surprised me. 13-30 derisked the South Western portion of that acreage in my mind. They could drill 10-15 more wells with 760 bbls/d of 40-degree API crude in that area potentially. It wouldn't take many to get the liquids production up significantly. Elmworth is supposed to have higher IRRs than Waskahigan according to the type curves but these results point to the opposite. With a 3.6 mill drill cost (estimated from corp presentation), the Waskahigan Western wells could have an IRR of 150-200%. Elmworth IRRs are looking much lower for now. However, deliniating the Elmworth acreage still increases the land value regardless.