RMP ENERGY INC T.RMP

RMP Energy Announces Start-Up of its Elmworth Battery

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RMP Energy Announces Start-Up of its Elmworth Battery

 

June 22, 2017 3:30 PM  Marketwired
 

CALGARY, Alberta, June 22, 2017 (GLOBE NEWSWIRE) — RMP Energy Inc. (“RMP” or the “Company”) (TSX:RMP) is pleased to announce the recent successful commissioning and start-up of its 100% owned and operated Elmworth 2-23 oil battery and gas handling facility in the Elmworth (Gold Creek) field of West Central Alberta (the “2-23 Facility”). The 2-23 Facility is presently handling the initial crude oil and natural gas production from two (2.0 net) of RMP’s Middle Montney drilled wells (3-22-68-3W6M and 4-18-68-2W6M).  Early-stage well production results are encouraging and the Company anticipates providing detailed production data once the wells produce for at least thirty calendar days (“IP30”). The start-up of the 2-23 Facility marks an important corporate milestone for RMP as it enables the Company to begin realizing commercial benefit and return of its capital investment from its new core area, which encompasses 82.5 net sections (52,800 net acres) of acreage prospective in the Middle Montney reservoir.  The 2-23 Facility, which can be expanded as required, has initial design capacity to handle 1,500 bbls/d of crude oil, 8.2 MMcf/d of natural gas and 7,500 bbls/d of emulsion.

In addition to RMP’s 2-23 Facility, as previously disclosed, the Company has secured strategic mid-stream infrastructure in the Elmworth area for hydrocarbon egress. RMP has in-place gathering, processing and transportation arrangements with a regional mid-stream service provider to handle the Company’s current and future crude oil and natural gas production from the Elmworth area.  These arrangements involve an area dedication and are not underpinned by take-or-pay commitments. The mid-stream company has installed and commissioned a gathering system with connection to RMP’s   2-23 Facility. The Company’s natural gas is being processed at the mid-stream company’s Patterson Creek Gas Plant, which provides sales gas pipeline connections for delivery into both the TransCanada and Alliance gas systems. RMP’s crude oil production, which is currently line pack filling the oil leg of the mid-stream’s gathering system, is delivered downstream of their gas plant with connectivity to a Pembina crude oil sales terminal.

RMP Energy Inc. is a Montney-focused crude oil and natural gas producer, based in Calgary, Alberta.  RMP’s common shares trade on the Toronto Stock Exchange under the ticker “RMP”.  For additional information on the Company, please visit RMP’s website at:  www.rmpenergyinc.com.