GREY:PEYTF - Post by User
Post by
pogohereon Jan 16, 2013 11:46pm
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Post# 20848443
Operational Update
Operational Update
The Trust is also pleased to announce it has met its 2012 exit rate production target. Based on field data, Parallel's production averaged approximately 7,200 boe/day between late October, when normal operations resumed in the Carson area, and the end of the third week in December. Production was temporarily impacted by severe winter storms during the last week of December. Parallel can experience higher levels of downtime in December and January due to winter storms; however, this is factored into the Trust's estimated 5% annual average downtime.
During the fourth quarter of 2012, Parallel drilled, completed and placed on production seven wells in the Carson field. The average 30 day initial production rate of the seven wells was approximately 60 boe/day, twice the rate Parallel is forecasting for its 2013 drilling program. On average, the cost of the seven wells was within Parallel's budgeted amounts.
https://finance.yahoo.com/news/parallel-energy-trust-confirms-january-004500699.html