Exploration & Production | Drilling & Completions | Key Wells
BNK Sees 30% Drop in Completion Cost at Caney Well
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BNK Petroleum Inc. has provided an update on its Tishomingo Field, Caney shale oil operations in Oklahoma.
The Company has begun field operations to fracture stimulate 22 stages in the previously drilled Nickel Hill 36-3H (99.4% interest) to take advantage of the cost reductions in oilfield services.
The completion costs for the Nickel Hill 36-3H well are estimated to be reduced by more than 30% over 2014 costs. The Company is anticipating production results from the well in late May.
After the completion operations are finished, the Company intends to immediately move the equipment to complete the Emery 17-1H well (98.7% interest) where only 6 of 20 stages were originally completed when a mechanical issue was encountered. The Company estimates that at a $50 and $55 WTI oil price its…
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