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Delphi Trims Montney Well Cost by 16%; Slickwater Frac
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Delphi Energy Corp. reported its financial and operational results for the quarter ended June 30, 2016.
Key Points: Capital costs continue to improve with drilling and completion capital for the 15-23 well estimated at $7.0 million. This compares to average drilling and completion costs of $10.4 million in 2014 and $8.3 million in 2015. 15-23 was drilled in the first quarter of 2016 to a total depth of 5,867 metres in 28 days with a horizontal lateral in the Montney of 2,865 metres. The completion consisted of a 37 stage slickwater frac design.Delphi remains excited about and committed to its development plans on its Bigstone liquids-rich Montney property, having commenced its second half drilling program. Recent production performance of new wells has demonstrated continued…
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