RE:Mica Montenay completed/online Croatia gas plant completed A lot of this news was forecasted in the Q1 ER.
It's also possible that they are trying to save the majority of the "thunder" for the Q2 ER release just announced today.
- In Croatia, construction of the gas plant on the SA-10 block is nearing completion which will add over 2,000 boe/d of European gas currently behind pipe. This production will contribute to FCF immediately upon start-up of the gas plant. In addition, we successfully completed drilling two of the four planned exploration wells on the SA-7 block, and completed drilling a third well subsequent to the quarter. All three wells drilled to date have discovered hydrocarbons in multiple zones which we expect will contribute to FCF in the years ahead.
- In Canada, construction of the 16,000 boe/d Mica Montney battery is nearing completion and remains scheduled for startup in late Q2 2024. We successfully completed the first six (6.0 net) BC Montney wells of our 2024 program and initial flowback results are in line with the strong performance seen on the original two wells on the 16-28 pad.
I would assume the production volumes and FCF were anticipated and included in full year 2024 guidance when they reported Q1 with any kind of fluctuations in guidance being reported in the Q2 ER also.
"Outlook and Guidance Update
Our Q2 2024 capital program includes completing the BC Mica Montney battery and Croatia SA-10 gas plant and tying in the behind pipe production in each of those areas. Drilling operations will continue on the remaining BC Mica Montney wells in Canada, the second exploration well in Germany and the fourth exploration well on the SA-7 block in Croatia while we also conduct further evaluation and testing of the successful exploration wells in Germany and Croatia. Most of the production from activity in the first half of 2024 will not be on stream until mid-year or later, and as a result we expect Q2 2024 production to be in the range of 83,000 to 85,000 boe/d."
Mostly all good news with the exception of the delayed drilling in Germany until Q3. Thanks for posting.
GLTA
galaxyr wrote: As per July presentation. I was surpy they didn't put out a news release
Mica Montney battery completed and online in late Q2 2024 • Croatia SA-10 gas plant completed and online in late Q2 2024 • Croatia SA-7 flow test completed on first two wells in Q2 2024 • Timing of Germany first deep gas well test and drilling of second deep gas well rescheduled to Q3 2024