GREY:VFGGF - Post by User
Post by
nlr2on May 14, 2013 8:02pm
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Post# 21392083
Trucking
Trucking Feel free to correct me but at first I was quite concerned that they were hauling in water but the Nov. 14, 2012 press release said that for the Evi 1 flood in three months they injected 70,000 barrels of water through one injector. Calculating that means about 777 barrels of water per day. Which if a truck can hold 400 barrels is two trips a day. Which isn't bad, especially if storage is on site.
That press release although dated is the last concrete details of the flood plans, which may have been intensified with the drilling of all the extra infill wells. But they had 8 injectors and 20 producers with cumulative production of 850 boe/d and a projected increase of 3-4 times. It's all up to the flood now. If it gave us a base of 1500-2000 low decline barrels then we should be able to keep growing and add 7 more floods next year. If not we will pull an Arcan.
Coming out of break up and q2 I'd be looking for a 25% decline in production and a 15-20 million dollar reduction in debt. Then drill 20 wells to finish the year and peak at 6000.
Maybe I am out to lunch so feedback is welcome.