NEW CKE (Montney): New Presentation is out (MUST-READ)The first presentation of the new CKE as a pure Montney producer is out, see:
https://www.chinookenergyinc.com/wordpress/wp-content/uploads/2016/12/CKE-Dec-2016-Presentation-WV-2.pdf
I quote from this excellent presentation:
In 2014-15, Chinook drilled & completed 6 (5.0 net) Upper Montney Hz wells at Birley, proving
the play concept and delineating a large portion of company lands.
Birley/Umbach: The production rates (up to 6 mmcf/d) & volumes (up to 1.7 BCF to date) from each of these CKE's wells rank in the top quartile of all wells drilled in the area (Birley/Umbach).
Birley/Umbach: Excellent results to date, decreasing capital and operating costs, implementation of recent technical innovations (longer wells, more and bigger fracs, parallel well pairs, zipper fracs, etc), a large drilling inventory, conservative reserve bookings, stackable pay zones,
operated and expandable facilities, and connection to multiple existing and proposed
egress options positions Birley as a major growth engine for Chinook for many years.
Birley/Umbach: 6 HZ wells (5.0 net) drilled and completed to date. Five 1200m Hz’s with 18 stages, one 1600m Hz (best well) with 24 stages (future CKE's wells all 1600m+ Hz’s with 24+ stages).
Birley/Umbach: CKE’s Montney wells are the shallowest in the play trend and still rank in the top quartile for first year productivity (good rock). Most recent wells drilled by other operators
have longer laterals and/or more frac stages than CKE’s first 6 wells (future CKE's wells will
be also longer).
Birley/Umbach: Netback recently increased by $2.70/boe as a result of CKE’s new gas handling agreement in NEBC effective November 1, 2016 (covers 20 mmcf/d of firm service until May, 2019, with interruptible service for volumes exceeding 20 mmcf/d). Commenced 3 (2.67 net) well program at Birley/Umbach (Nov 28th Spud)
• Complete and tie-in these wells in Q1/17
• Construct an additional Birley/Umbach drilling pad for further 2017 drilling
Knopcik/Gold Creek: Chinook’s land sits directly adjacent to and on trend with the developing Pipestone “super condensate” corridor, with liquids ratios approaching 300 bbl/mmcf.