GREY:DPGYF - Post by User
Post by
brandonnon Jul 05, 2013 1:47am
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Post# 21590225
Another well licensed
Another well licensedDelphi just licensed a well on July 2nd. I have attached a piece of the news release from July 2nd. Any one know who the Joint Venture is with?
Delphi has entered into a joint venture agreement on four Montney wells in East Bigstone. The joint venture partner will contribute $2.5-million per well for a total of $10.0-million toward the company's 2013 Montney capital program. In exchange for the capital contribution, the partner will receive a 10-per-cent gross overriding royalty (GOR) on the company's working interest revenue on the well until payout of the capital contribution. After payout the GOR will be reduced to 7.5 per cent until a required rate of return is achieved on the pooled funds, at which time the GOR will be extinguished on all four wells. The company has expressed interest in a similar arrangement with the partner for the company's 2014 Montney capital program at East Bigstone.
DELPHI HZ BIGSTONE 15-30-60-22
PRODUCTION - DEV (NC)
Well ID: 02/15-30-060-22W5/0
Fluid: GAS
Licensee: DELPHI ENERGY CORP.
License Date: 02-Jul-2013
Projected Depth: 5,670.0 m
Field: BIGSTONE
Terminating Zone: MONTNEY FM