Drilling & Completions | Top Story | Drilling Activity | Drilling Program-Rig Count

Obsidian Running Two Cardium Rigs; Light Oil Production 'On Track' for 2018

Share Print Bookmark    |    Wednesday,October 10,2018

Obsidian Energy has reported an update on its production outlook as well as drilling operations.

Obsidian Energy is on track to deliver meaningful 2019 light oil production growth from our Willesden Green Cardium program.

We now have two active rigs in the Cardium just east of the North Saskatchewan River in the Eastern flank of Willesden Green. The rigs are drilling directly offsetting a two well pad from earlier this year which averaged approximately 375 boe per day per well (87 percent oil) for both the first 30 and 60 days of production. The first rig has finished drilling the first well on our two well 14-01 pad, and completions for the pad will begin in late October. We drilled all 4,100 meters of main hole in this monobore well using a single bottom-hole assembly. The second rig has finished drilling its second well on the three well 04-06 pad. Fracturing operations will begin on this pad in mid-November.

Between the two rigs we have in the area, we are drilling the seventh and eighth wells of our 15 well second half program. We continue to expect five of the 15 wells to be producing by December 31, with the remaining 10 wells coming on production early in the first quarter of 2019.

Deep Basin

Our single, second half 2018 Deep Basin well was rig released on July 28 and fracked in early-August. Drilling and completion costs came in on budget and strong production rates came online in late August. The well averaged 1,430 boe per day over the first 30 days of production, with liquids ratios better than expected at approximately 85 bbls/mmcf (approximately 490 bbl/d), of which 55 bbls/mmcf (approximately 325 bbl/d) is free condensate.

Peace River Update

In Peace River, we are currently drilling the fourth well of our four well second half program. We have averaged 8 legs per well and reservoir characteristics look strong with good oil shows. Oil production from the first two well pad is expected to come online within the next week, and the next two well pad is scheduled to come online in mid-November. The Peace River joint industry gas gathering system and gas plant was on-stream in advance of the September 30, 2018 Alberta Energy Regulator Directive-84 regulatory deadline. Current plant throughput is approximately 3,500 mcf per day net to Obsidian Energy.