An exciting year ahead. “Cardium production growth is temporarily outpacing expansion of our facility infrastructure, which should be alleviated by the end of the first quarter,” PetroBakken said.
“We continue to execute on our business plan and currently have 11 drilling rigs operating: five within the Cardium business unit of Alberta, five within the Bakken business unit in southeast Saskatchewan and one drilling conventional prospects in southeast Saskatchewan.”
Drilling activity year to date has resulted in 20 (14 net) wells, with 10 (seven net) wells drilled in the Bakken, seven (five net) wells drilled in the Cardium, and three (two net) wells drilled in the Saskatchewan conventional business unit.
“We continue to execute according to our initial 2012 capital plan of $700 million, with the anticipation of updated guidance being released in March,” the company said.