Iron Brdg Res Inc. OEXFF

RE:RE:RE:RE:Hey Velvet

[ditchdigger251]

From what I've heard the production issue was related to water handling capacity which was something IBR's been working on resolving.  I remember seeing an AER water injection application for converting a well submitted in early spring so it's something they've been working on for a while before their two new Hz's (00/8-21 & 02/8-21) were even turned onto production.  Trucking & disposal of water up there is expensive so making sure that the 2-23 facility has adequate disposal capacity is critical to maximizing netbacks (something I wish I had more access to with the Montney wells I've been involved with).  It would have been good to get some detailed operational comments on how IBR sees the performance of the two wells but it's clear that both wells are strong or they wouldn't have installed bottomhole chokes to restrict flow - a very positive sign in my books.

As for the sand cleanouts - it looks like that work was carried out due to something IBR was told or noticed in the tracer analysis (such as some tracers being present or having stronger concentrations from frac stages vs. others that could be lower concentrations or absent altogether).  I'm a tracer skeptic having seen interpretations that later seemed to flip flop based on more production history and heard others present info from wells they've worked on in the Permian that also found the value of running tracer iffy.  That said if there's obvious signs of blockage then doing a coil cleanout is a good thing and easier done when the wells still have a lot of jam to flow back strongly.  I just hope that between the disposal capacity increase and the cleanouts that IBR can finally put together a nice stretch of run time history for their new wells, ramp production up and concentrate on filling up to 6500 boed's by Christmas.