OTCPK:AETLF - Post by User
Post by
qwqwon May 27, 2015 9:17pm
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Post# 23772085
AEI has 1000 boe/d behind pipe
AEI has 1000 boe/d behind pipe"At Princess, Alta., the equip/tie-in of three wells has been postponed until the third quarter when crude prices are anticipated to be higher. The production capability of the three wells is estimated at 400 barrels of oil equivalent per day in total."
These wells were drilled in Q4.
"During the first quarter, Arsenal participated in new drill operations on six gross (0.89 net) Bakken/ThreeForks horizontal wells in Lindahl, N.D. Well costs in North Dakota have dropped by 20 per cent to approximately $6.5-million (U.S.). At those costs, the Lindahl Bakken/ThreeForks Bakken-type wells averaged 24-per-cent rates of return at forward strip pricing. It is anticipated that all wells will be completed and placed on production by the end of the third quarter. Bakken wells at Lindahl typically produce at an average rate of 630 barrels of oil equivalent per day for the first month and 260 barrels of oil equivalent per day for the first year."
AEI decided to sacrifice present production and CF for hopefully higher prices in the future.
Smart move in my book.Not every company has the option or the guts to wait.But I'm glad
I found one that does.