RE:RE:RE:RE:SOIL Looking Dang GoodYou were quite accurate with your production estimates! 12 Wells drilled, IP30 production for 8 of 12 being 93.2 boe/d with an expect payout of Aug 2022. As for y
our water reference: they are saying they 'shut down' the water leg, like a good engineer would resulting in an increased recovery from 7 to 70 boepd. Not so sure about your other hunches but hey, I got em too.
Eight of these wells now have 30 days of production data available that has increased the Company’s estimate of the average expected ultimate recovery of crude oil for these wells.
Your water reference: they are saying they 'shut down' the water leg, like a good engineer would resulting in an increased recovery from 7 to 70 boepd
One notable driver for the increased expected oil recovery was the post drilling operations performed for the Glen Ewen 102/14-26 well that was initially producing 5 bbl/d of crude oil with a 98% water cut. The water producing zone in the lateral leg was isolated and shut off increasing oil production to over 70 bbl/d for the subsequent 20 days.
Data for the remaining 4 wells is not at IP30 yet as they were just activated in April:
Justin Kaufmann, Senior Vice-President, Exploration. “We forecast the first eight wells drilled in the Oxbow Asset will reach payout in August of 2022 which is consistent with our expectations of payouts in five to seven months given current oil prices.” Four additional wells were drilled in Q1 2022, placed into production in late April 2022 and have yet to have recorded 30 days of production data to report.
If anything is fishy it's w these 4 wells.
all available here: https://saturnoil.com/invest/news-releases/saturn-oil-gas-inc-announces-successful-drilling-results-at-oxbow-asset-and-increases-2022-guidance