GREY:MKRYF - Post by User
Post by
Fernando2010on Feb 03, 2015 1:36pm
261 Views
Post# 23392529
Production. They missed their own guidance again
Production. They missed their own guidance againThey unsuccessfully tried to hide it under a ton of detailed info, but the fact is: management missed their own guidance of 2014 exit production rate of 6.100-6500 boed.
In today´s operations update, the paragraph related to production states the following:
Production
Based on field estimates, December 2014 production averaged 4,235 boe/d (56% oil) and production averaged 4,610 boe/d in the first three weeks of January 2015 hitting a peak weekly rate of 4,855 boe/d (54% oil) before being notified in mid-January 2015 of a TransCanada Pipeline restriction of 250 boe/d of natural gas in the Stolberg area, due to total system volume reductions associated with required repairs on its system. TransCanada Pipeline has advised Manitok that the restriction could be in place for up to three months. The 4,855 boe/d weekly production rate was achieved with a contribution of only 580 boe/d (215 bbls/d oil) from the two Glauc wells at Entice severely restricted as a result of the high condensate content in the natural gas and the remaining Entice wells awaiting tie-in. Manitok is working diligently to maximize Entice production levels given the short term restrictions. Manitok anticipates resolving the issue with a longer term solution late in the first quarter of 2015.