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Birchcliff Betting on the Montney for 2016; 15 Wells, $140MM
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Birchcliff Energy Ltd. has detailed its 2015 results as well as its 2016 capital budget.
Highlights: Capex of $140 million Birchcliff expects to drill a total of 15 (15.0 net) wells, which consists of 14 (14.0 net) Montney/Doig horizontal natural gas wells in the Pouce Coupe area and 1 (1.0 net) Charlie Lake horizontal light oil well at Worsley, which is addressing Birchcliff’s only significant land expiry in 2016. Preliminary planning and permitting work has been initiated for the Phase VI expansion of the PCS Gas PlantBirchcliff reported that its current production is approximately 42,000 boe per day. Birchcliff estimates that its 2015 annual average production was approximately 39,000 boe per day, which set a new annual average production record for Birchcliff.
Estimated 2015 fourth…
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