RE:RE:Charlie Lake Bonanaza + Spending LessI think you right but companies like TOU are all over the Charlie Lake as well.
I think it is a superior economics play, and It is less costly to drill than the Montney, and multizone which makes the play areas have up to 5 zones. (65-70%) NGL's in Spirit River and the last well in Wembley/Pipestone 78% liquids with only 10% water. More oily than gassy.
Tourmaline had the top performing charlie lake well at 1,606 boe/d (average calendar day boe rate), located in the Mirage area at 100/15-22-079-07W5/00. Archer, Longshore, Whitecap and Tamarack Valley also had wells that exceeded the 1,000 boe/d rate (average calendar day boe rate). The Tourmaline 100/15-22-079-07W5/00 well was also the top performing oil well at 937 bbls/d (average calendar day oil rate). Tourmaline had two of the top 10 oil wells, while Tamarack Valley had six of the top 10 oil wells (bbls/d).
I agree, i don't think the gas plays are that interesting, Canada is a really a gas basin. Except for the oil sand, but conventional oil not so much. However Kelt is pretty oilly for a company in Canada not in the oil sands.
Charlie lake is efficient production and the more Charlie Lake that comes on like the less gassy wells that will be produced.
Kelt kind of runs the company like they are private, and don't have the same decision making concern of a public company, because they have a 25% ownership stake, and have one hedge fund to keep happy allowing them to sometimes take a more strategic approach than short term economics.
It Oak in notice the wells they added their according to the map are quite a long ways from the original wells as they deliniate the resouce.
MHP
IMHO