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Marquee Increases Frac Stages for Michichi Banff Wells; Talks Q4 Production

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   |    Friday,April 13,2018

Marquee Energy has reported its Q4 2017 results and highlights as well as a Q1 2018 update.

Highlights:

  • Production in Q4 averaged 2,874 boe per day (49% oil and liquids) - a 12% increase YOY
  • Well Cost Increase: The per well capital cost for each of these new wells was $2.3 million, which is 25% above the previously announced budgeted capital - due to increased frac stages and weather delays

Q1 2018 Update

Five wells drilled at Michichi prospect in Q1 - each of these wells was drilled with cemented monobores and received 28 to 29 fracture stages.

Increased frac density improves results: The first well from this program was brought on production in mid-January and has an average field estimated production rate over the first 60 days (IP60) of 195 boe per day (80% oil and liquids).

The final four wells in the program were drilled from a common surface location and commenced production in late March. The wells continue to clean up load water from the fracture stimulation. The Company will release production results when meaningful information becomes available.

 

 

 

 

 

 


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