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Bonavista's Extended Reach Well IPs Up 20% YOY;
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Bonavista Energy reported its Q2 2017 results. Highlights include:
- Production averaged 72,313 BOEPD (up +7% YOY)
- Reduced long-term debt, net of adjusted working capital by 18% to 861.8 million as compared to the second quarter of 2016
Extended Reach Lateral Well Success:
Our first half extended reach horizontal ("ERH") wells at Ansell are performing at robust rates of approximately 850 boe per day per well on average for the first three months of production, representing a 20% increase over the initial 90-day production period relative to the same period of our first half 2016 program.
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