Final IP30 Production ratesThe O & G industry recognizes peak rate (the starting point of production decline) initial production (IP30) as a rolling average for 30-day production performance .
In general, it takes 30 days of initial production ( sometimes more )
during which the well is cleaning up and production processes optimized in order to determine the wells peak production rate.
The first Gwinville well began IP30 test production on June 2 and a week later ( June 8 ) first week production averaged 1280 boepd.
The second and third Gwinville wells began their IP30 testproducing on about June 15 and Approx 1 week later ( June 23 ), the 3 well pad was producing 2550 boepd .
At that point, the first Gwinville has been two weeks into its IP30 test and the second and third wells just 1 week into their IP30 production test.
So, what we had as of June 23 2022 was very early production testing with all three wells still cleaning up.
By early July, the first Gwinville will have reached its IP 30 production performance and by about Mid July the second and third wells will have reached IP30 as well.
Typically, its takes 30 days for a new horizontal well to reach its peak performance .
2550 boepd is still an excellent production test.
However, on average we can expect to see this number exceeded once production testing reaches 30 days.