Development Strategy Going Forward -Delineation done
Kelt in recent meetings, told shareholders they are now in development mode, and pretty well all the Alberta Lands are fully deliniated.
OAK
In 2023 Oak produced 4493 boe/da 23% liquids on 25 MMcf of plant capacity. The netbback was $18.91 boe/day.
April 1,2024 Oak gas plant capacity was increased to 45 MMcf a day. That will result in Oak producing just over 8,000 boe/day. (Thats about 3,500 boe increase at Oak once the plant is filled)
WEMBLEY
Wembley has 14 well PADS that will be drilled in 2024, these are part of their development drilling plan. Three pad, 14 wells that will go a long way to filling up the 50 MMcf they expect to come on in Q4.
POUCE COUPE NORTH
This is primarily a charlie lake play but by recompleting a handful of vertical wells, and then getting strong results with their horizontial follow up wells Kelt confirmed the resource is there. So increasing the size of the battery sets this play up as a 2025 Charlie Lake opportunity, with maybe a montney well thrown into the mix, to investigate that opportunity as well.
Spirit River
This play is drill to fill, and they have lots of locations to keep this play idling along.
IMHO