Exploration & Production | Drilling / Well Results
Crocotta Energy Touts Cardium, Bluesky IP Rates
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Crocotta Energy Inc. has reported that current production is estimated to be 8,200 boepd (67% gas; 33% light oil and natural gas liquids).
Crocotta is currently drilling at Edson and projects it will have an additional 2 (1.0 net) cardium wells and 1 (1.0 net) Bluesky wells on production by mid-December and, based on type curves, will exceed its exit target of 8,500 boepd with an approximate $90 million in 2012 capital expenditures.
Initial production rates for both Bluesky and Cardium have been at or above our type curves with drilling and completion costs coming in slightly below our estimates. Given current reduced costs combined with our drilling success to date, Crocotta is looking at drilling 1 (1.0 net) cardium well, 1 (0.60 net) Bluesky well and completing 1 (1.0 net) Montney…
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