Exploration & Production
Bonterra Energy Announces Cardium Drilling Update
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Bonterra Energy is pleased to announce its operating and financial results for the first quarter ended March 31, 2012.
Capital expenditures for the quarter were approximately $21.4 million related mainly to the Company's drilling program with five gross (five net) operated wells drilled, including two 100 percent wells in the main Pembina Cardium pool and three in the halo area of the pool.
Due to multi-well pad drilling and spring breakup, three gross (three net) wells drilled in the first quarter, including the two main pool wells, were not frac'd and on production prior to quarter-end.
These wells will be completed as soon as road-bans end, typically in late May each year.Bonterra participated in drilling two gross (0.3 net) non-operated main pool Pembina Cardium wells in the Berrymoor…
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