Operational Updates
Celtic Reports Duvernay and Montney Operating Results; 2012 Capital Budget
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Drilling and Operations
In the Greater Resthaven area, five horizontal Montney wells were drilled and completed throughout the 702 section block as the Company continued to de-risk its Montney acreage. An additional well in the Smoky area was tested with a vertical strat and drilled to 90 degrees where intermediate casing has been set.
The Company expects to drill the horizontal leg on this well next winter due to an early spring break-up. At the south end of the Greater Resthaven land block, Celtic has put on-stream, a newly drilled well located at Harley 06-12-057-27W5 (100% WI).
Given the well’s location in a previously untested part of the Resthaven land block, the results from this well are significant in evaluating and de-risking the Company’s acreage. The well was drilled to a…
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