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Bullboard - Stock Discussion Forum RMP ENERGY INC T.RMP

"Iron Bridge Resources Inc, formerly RMP Energy Inc is a crude oil and natural gas company engaged in the exploration for, development and production of natural gas, crude oil and natural gas liquids in Western Canada."

TSX:RMP - Post Discussion

RMP ENERGY INC > Paramount's Feb Operational Update
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Post by ditchdigger251 on Mar 06, 2017 10:09pm

Paramount's Feb Operational Update

Here's some detailed recent Paramount data taken from wells that are approximately 2 townships south and 1.5 townships west of RMP's Gold Creek lands:

https://www.newswire.ca/news-releases/paramount-resources-ltd-provides-operational-update-and-preliminary-2017-outlook-613813823.html

I want to point out that these wells are drilled with ~3000m lateral lengths and were slick water frac'd at 100 tonne/stage and stage spacing of 40m to 59m (the 15-14 well had the biggest spacing).  Paramount was really going Full Out Texas to stimulate as much rock as possible.  The proppant intensity is over twice as much as what many operators were doing just over a year ago (I've seen many completions between 0.8 to 1.2 tonnes/m of lateral).  The results from such "Full Montney" all-in horizontals are astonishing.  Keep in mind that Paramount's land is further "down dip" and more in the "overpressure" area compared to RMP's lands that appear to fall in a more normally pressured area - that can affect that type of completion that works the best (for example Advantage Oil & Gas used N2-foam fracs on more normally pressured Upper Montney & energized slick water fracs on overpressured lower-middle Montney wells).  The bottomline is I can see RMP's land as being more oily than Paramounts - which still is pretty darn good given that 40% of the BOE's produced are liquids.

 

15-02 PAD

4-19 PAD

WELLS

15-14

4-7

02/4-7

1-12

02/1-12

Completion Details

         
 

Completion Stages

50

70

75

73

58

 

Proppant (tonnes)

5,000

7,000

7,500

7,300

5,800

 

Proppant intensity (tonnes / meter)

1.7

2.3

2.5

2.4

1.9

Production - Cumulative

         
 

Natural gas(1) (MMcf)

997

135

45

9

25

 

Wellhead liquids(1) (Bbl)

161,479

64,318

30,338

3,365

6,484

 

CGR(2) (Bbl/MMcf)

162

477

675

380

258

 

Days of flowback

152

45

16

11

13

Production - Last 7 Producing Days

         
 

Natural gas(1) (MMcf/d)

5.0

4.8

3.7

   
 

Wellhead liquids(1) (Bbl/d)

754

1,915

2,261

n/a(3)

n/a(4)

 

CGR(2) (Bbl/MMcf)

152

403

607

   

Production - Last 24 Producing Hours

         
 

Natural gas(1) (MMcf/d)

5.4

4.7

3.4

4.1

 
 

Wellhead liquids(1) (Bbl/d)

832

1,766

1,824

1,945

n/a(4)

 

CGR(2) (Bbl/MMcf)

153

380

536

474

 
Comment by Seppelt on Mar 07, 2017 4:08pm
When POU released this on Feb. 15, it's shares went up from about 16 to close to 19 in only a few days. Great wells with a lot of condensate which is as good as oil.   Cost, however, should also be factored in. These extra deep and long POW wells are probably a lot more expensive to drill and complete.    RMP should soon release Q4 and annual results. It would be ...more  
Comment by ditchdigger251 on Mar 07, 2017 4:35pm
From January 23rd 2017 News Release (last paragraph of Operations Update): "Overall, anticipated production additions from the Company’s modest Waskahigan drilling program in 2017 is expected to maintain corporate base production levels of 3,200 to 3,300 boe/d from Waskahigan and its other non-core areas, collectively (approximately 35% crude oil and NGLs). Additionally, the tie-in of the ...more  
Comment by pablo87 on Mar 07, 2017 5:56pm
March 21 is the date when RMP will release the reserves, Q4 and Year end, and operational update.
Comment by Seppelt on Mar 07, 2017 11:10pm
Gentlemen,    Nuvista just issued Q4 results. Among other things, it says: "Identified two emerging development blocks at Gold Creek and Pipestone". No individual GC well data is provided in this report or in January update. However, the updated March presentation (Slide 15) illustrates Gold Creek type curve data. It's 3000 m ERH cost $8.4 mm, CGR 60 bbl/mmcf, etc ...more  
Comment by pablo87 on Mar 08, 2017 9:41am
If you look at Nuvista's #s, $10.5M DCET, $24.50 netback and 1.1year payback, that means 428,000 BOE produced in 400 days or 1070 per day.  The RMP type curve appears to show 550+ BOE/day in months 7-12.  Since their DCET is half, seems like RMP's Gold Creek economics WILL BE better thus the 0.9payback (which would indicate at the same $24.50 netback, 200,000 BOE over 330 days or ...more  
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