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Montney / Horn River E&P Ramping Up Completions 40% in 2017
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Storm Resources Ltd. has reported its Q3 2016 results as well as its preliminary 2017 outlook.
Key Points:2017 Guidance
Complete 14 net wells (+40% over 2016) Turn-in-line 15 net wells (+36% over 2016 Spend $75-80 million (+15-23% over 2016)Increasing Frac Stages / Lateral Lengths
Lateral lengths increased +27% Frac stages increased +43%The majority of future horizontal wells are expected to have greater than 1,600 metres of completed length with more than 30 frac stages (the average 2014 and 2015 wells have a completed length of 1,265 metres and an average of 21 frac stages).
2017 OutlookCapital investment in 2016 includes $19 million for the third field compression facility which is expected to be operational in January 2017. Initial capacity will be 35 Mmcf per day which…
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