Operational Updates
Celtic Provides Duvernay and Montney Operational Update
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Celtic Exploration Ltd., released its financial results for the year ended December 31,2011, earlier today. The Company has followed up with this press release, providing an operations update.
RESTHAVEN
Celtic is pleased to provide an update on activities at Resthaven. To date, the Company has drilled 20 horizontal Montney wells over a fairway that extends more than 70 kilometres. Celtic has built a facility located at 02-10-060-01W6 (the “Resthaven facility”) including compression and dehydration equipment with a capacity of 55.0 MMCF per day of raw natural gas production. The Company has tied-in nine horizontal wells to date and is currently producing approximately 30.0 MMCF per day of raw natural gas through the Resthaven facility.
The gas is shipped through a 12-inch pipeline from the…
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