RE:RE:RE:RE:RE:Another Great Quarter for Crew! I think you're on the money here BTOS.. Tower I believe they will drill this pad then look to sell this asset.. (more saleable)... they'll get the capex back + the right price for this non-core..
I'd expect this would then be put to work to build out 'a larger' Groundbirch Gas Plant, to take the company up to 70-80,000 boepd.
They have capacity at the West Septimus gas plant for condensate, so lots of processing runway there also for liquids.
It's just looking better all the time with this co. Bravo Dale & team.
~TGC.
BeatTheOddsSqua wrote: Gonat as I mentioned earlier, Tower is light oil so it doesn't need to be processed at Crew's gas plants. The associated gas would but it is a small amount.
Greater Septimus is condensate/NGL rich gas and needs to be processed at Crew's gas plants. Crew's liquid capacity at their plants is filling up so it is nice to add BOE's without utilizing the plants.
Dale mentioned that they really liked Tower's light oil and as they built out their Septimus gas gathering infrastructure to the east that they could someday access those reserves. Arc and CNRL seem to love Tower as they have drilled right up against Crew's land holdings.
The well licences for the 15-28 pad were issued in 2014 so these drills have been on the books for some time. It looks like that time has come and that these locations may not have had to go through any additional government reviews.
My best guess.
BTO