GREY:ZARFF - Post by User
Comment by
deismanon Nov 25, 2014 12:09pm
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Post# 23161869
RE:News - Sale of Hamilton Lake
RE:News - Sale of Hamilton Lake $147k boe . sweet!
The Hamilton Lake property is a 47 section wholly owned Viking unit in east-central Alberta. This property has already recovered about 16 million barrels of oil reserves, which represents only a 10 percent recovery of the original oil-in-place.
Using multi-frac horizontal well technology, we plan on significantly increasing the recoverable reserves by drilling in areas in the pool that were not swept by the previous waterflood. Five horizontal wells have been drilled and have provided “proof of concept” that the pool has oil productive unswept areas. Last fall, three shorter monobore horizontal wells were drilled in order to reduce costs.
Results were disappointing. Over the summer of 2013, we will revisit our technical models to develop an exploitation program that can profitably recover the unswept oil. With success, more than 50 horizontal locations may be drilled