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Prospera Energy Inc V.PEI

Alternate Symbol(s):  GXRFF

Prospera Energy Inc. is a Canada-based energy company. The Company specializes in the exploration, development, and production of crude oil and natural gas. Its core properties include Cuthbert, Luseland and Heart Hills in Saskatchewan; and Red Earth and Pouce Coupe in Alberta. Its Phase II restructured development program intends to increase production. The Phase II development entails the drilling of 10 horizontal wells in heavy oil and 8 slanted wells in medium-light oil to accelerate growth and capture the remaining reserves (400 million bbls). It also seeks to reduce its environmental and surface footprint by eliminating the numerous vertical well leases along the lateral path.


TSXV:PEI - Post by User

Post by SOBARSon Mar 11, 2021 3:18pm
188 Views
Post# 32777807

Production of 900boepd for 2021..

Production of 900boepd for 2021..
For September to December, Prospera will continue production increases concurrent with improving oil prices. Installation of a proposed high volume lift pump system at the Cuthbert field will allow for dramatic fluid level drawdowns with increased production. Cuthbert has a number of wells with high fluid levels which will benefit from this test high volume installation. The Corporation is projecting average gross oil production of 850-950 boepd at the end of 2020.

https://www.theglobeandmail.com/investing/markets/stocks/PEI-X/pressreleases/238765/
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