RE:Petrus well resultsHuge wells and liquids heavy is great news. IP30 of over 1,000 boe/d on average very strong.
Per well economics
1,000 boe per day x $50 CDN average = $50k per day x 30 days = $1.5M per month
Highly material to Yangarra even at a 60% interest.
sculpin2 wrote: Believe these are with Yangarra in the Chedder area....
The previously announced drilling activity of 4 gross (1.6 net) Cardium light oil wells in the Company’s core area of Ferrier, Alberta are now on production. The first 3 gross (1.2 net) wells have been producing for approximately 3 months and over the initial 30 days, their average production was approximately 3,100 boe/d (1,200 boe/d net to Petrus) (85% liquids). Cumulative gross light oil production from the 4 gross wells has been approximately 175 mbbl, and the Company expects that two of these wells will have reached economic payout by midDecember (3.5 months). The Company expects to resume drilling activity in the first quarter of 2020.