GREY:VFGGF - Post by User
Post by
tulsateaon Jan 22, 2014 4:25pm
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Post# 22122301
Penn West
Penn WestIn the Slave Point, drilling commenced late in November and increased to a four rig pace at year-end. Operations will continue at that pace until spring break-up when nine of the 23 budgeted wells are anticipated to be on-stream. Results from two Red Earth wells drilled in the quarter have encouraging geological indications of significant reef facies. As a result of these positive indications, Penn West is proceeding with the development of a broader program that will include infrastructure upgrades for the 2015 budget year. This is consistent with the development plan for the area as presented in the long-term plan. In the Otter waterflood pilot, injection into two horizontal wells commenced on November 19, 2013. We continue to monitor offsetting competitor waterflood schemes as they can provide valuable information for the design and implementation of our projects. Penn West plans to convert an additional seven horizontal wells to injection in the area by the end of 2014.