Exploration & Production | Drilling & Completions | Drilling / Well Results | Top Story
PetroBakken Completes Cardium, Bakken Wells
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PetroBakken Energy Ltd. has reported that average production for the month of December 2012, was 53,200 barrels of oil equivalent a day (boepd) based on field estimates. The company has also released details on its 2013 capital budget.
PetroBakken had a successful year in 2012. Early in the year we completed certain initiatives to strengthen our financial position and increase balance sheet liquidity. This included terming-out our debt through the issuance of US$900 million of high yield notes and disposing of approximately 4,200 boepd of non-core properties. The asset dispositions allowed us to expand our capital program during the second half of the year and more than replace the disposed production. Our 2012 December average production of 53,200 boepd represented a 6% increase over our…
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