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Iron Brdg Res Inc. OEXFF

"Iron Bridge Resources Inc is a Canada-based company. It is a crude oil and natural gas exploration, development and production company. Its project consists of Elmworth. The company receives maximum revenue from the sale of petroleum and natural gas."


OTCPK:OEXFF - Post by User

Post by ditchdigger251on Jan 18, 2018 7:12pm
211 Views
Post# 27389597

Looks Like 102/5-22 is Finished Drilling

Looks Like 102/5-22 is Finished Drillingh/t to barsax:

Savanna Rig 651 has moved on and spudded another IBR Hz:  
 00/08-22-069-04W6/0 RMP HZ ELM 8-22-69-4
 0487384 A08C Savanna Drilling Corp. 651
 16 Jan 2018 07:45:00 PM Grande Prairie
That means that 102/5-22-68-3W6 is finished drilling and along with 100/5-22 is now awaiting the start of the back to back completions.  Going off of the Dec 20th Operations Update gving an approximate spud of Dec 23rd and the Nov 30th spud date for the 100/5-22 the drill times for both wells is 23 to 24 days.  Very respectable for drilling ultra long 2600m lateral Hz's.  For comparison sake the best drill times I've seen on 10 well pads (1600m laterals) in the Kakwa Montney (another 1000m deeper and slightly sour) was 37 days/well and that was because all the surface casings were drilled first.  One-off Kakwa Montney Hz wells could easily hit 50 days depending on lateral length and drilling complexity.  There's definitely room for IBR to shave off some days once they're into full development.  Looking good to me so far and keeping to schedule.

Now comes the completions.  If things remain relatively warm in Northern Alberta compared to the Christmas deep freeze that will reduce costs for water heating (which can be significant).  Getting roughly 3000 tonnes per well of proppant hauled, setting up water tanks, high pressure lines, pumping units, blender, coil tubing unit, N2 etc. will take some time  but once everything's in place the dual well completion should proceed rapidly.  Still there's a 160 stages to knock off so that could take a couple of weeks to pump (back of the envelope guess) before starting flow back.  Then if they're super keeners the inlet separation equipment will be ready to go (could even rent some skids) and temporary surface lines could be used to capture the new production while permanent stuff is being set in place.  The fact that this is sweet Montney makes doing this operation significantly easier and less risky.  Exciting times just ahead!
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