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Prospera Energy Inc V.PEI

Alternate Symbol(s):  GXRFF

Prospera Energy Inc. is a Canada-based energy company. The Company specializes in the exploration, development, and production of crude oil and natural gas. Its core properties include Cuthbert, Luseland and Heart Hills in Saskatchewan; and Red Earth and Pouce Coupe in Alberta. Its Phase II restructured development program intends to increase production. The Phase II development entails the drilling of 10 horizontal wells in heavy oil and 8 slanted wells in medium-light oil to accelerate growth and capture the remaining reserves (400 million bbls). It also seeks to reduce its environmental and surface footprint by eliminating the numerous vertical well leases along the lateral path.


TSXV:PEI - Post by User

Post by goldboyz2on Sep 13, 2022 3:44pm
295 Views
Post# 34960215

Todays NR

Todays NR

Prospera Energy is primarily focused on optimizing hydrocarbon recovery through environmentally safe and efficient reservoir development methods and production practices. Restructured PEI has elevated gross production levels to 925 Boepd (750bpd) from 80bpd in the span of a year and a half. PEI has piloted horizontal laterals in order to assess and improve technical and economic efficiency to effectively capture the significant remaining reserves (400milion bbls).

Music to my ears

Can't complain, money rolling in, two new wells being drilled and in production by year end. 


GB

 
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