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Montney Operator Ramping Up to 12 Rigs in 2017; 30 Stage Frac's
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Tourmaline Oil Corp. reported an operations and financial update.
Quick Read The current 2017 EP capital program assumes a 12 rig program. The Company has now drilled and completed 30 stage Montney horizontals in NEBC for $2.9 million. 26 stage Charlie Lake horizontals for $2.5 million and 25 stage Deep Basin horizontals for $3.9 million. Montney MapDuring the third quarter, Tourmaline plans to run five to six rigs in the Alberta Deep Basin, two to three rigs for the Peace River Charlie Lake oil play and one rig in the B.C Montney gas-condensate complex. Third quarter EP activity will focus primarily on drilling the longer lead time multi-well pads with the shorter duration pad completions largely deferred until the fourth quarter.
The Company has already achieved a 10% reduction in…
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