Donnycreek results Donnycreek Reports Successful Test Results in Kakwa Upper Montney Zone
Monday, April 07, 2014
Donnycreek Reports Successful Test Results in Kakwa Upper Montney Zone
08:00 EDT Monday, April 07, 2014
CALGARY, ALBERTA--(Marketwired - April 7, 2014) - Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports that its eighth Kakwa horizontal Montney well at 02/14-30-63-5 W6 (the "02/14-30 Well") (Donnycreek 50% working interest) drilled in the upper Montney interval has been successfully completed and tested. The 02/14-30 Well was drilled to a total measured depth of approximately 4,563 metres, with a horizontal leg of approximately 1,068 metres, approximately 200-500 metres shorter than previous Company Kakwa wells and the shortest of the Company's Kakwa horizontal Montney wells drilled to date. The 02/14-30 Well was completed using a water-based nitrogen foam frac and then tested for approximately 119 hours, flowing up 4.5 inch casing. During the final 24 hours of flow-back the 02/14-30 Well continued to clean up frac fluid and produced against anticipated gathering system pressure of approximately 1,800 kPa and averaged gross production rates of approximately 1,076 boe/d consisting of 621 bbl/d of condensate and 2,734 mscf/d of natural gas (310 bbl/d and 1,367 mscf/d, or 539 boe/d combined, net to Donnycreek).
Final equipping of the 02/14-30 Well and onsite facilities work will begin immediately to provide for tie-in of production from the 02/14-30 Well into Company-owned infrastructure. Donnycreek anticipates that the 02/14-30 Well should be ready for production in May 2014.
Donnycreek is encouraged by the test rates and ratio of condensate to natural gas production from this upper Montney interval and the potential for additional development of the upper Montney across its entire Kakwa land position. Production test results from the upper Montney interval in the 02/14-30 Well have been reported at this time given this is a previously untested Montney interval on Donnycreek's 50% working interest 16.75 section Kakwa land block. As previously reported, Donnycreek expects to release any further development drilling production results at Kakwa based on 30 day initial production rates.
The Company advises that although the initial rates from the 02/14-30 Well are encouraging, production test results are not necessarily indicative of long-term performance or of ultimate recovery from the 02/14-30 Well.
Donnycreek is a Calgary based public oil and gas company which holds approximately 438 gross (313 net) sections of petroleum and natural gas rights, with an average working interest of approximately 70%, prospective primarily for Montney liquid rich natural gas resource exploration and development all of which are located in the Deep Basin area of west-central Alberta.