Exploration & Production | Drilling / Well Results
PetroBakken Turns on Taps at Cardium, Bakken Wells
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PetroBakken Energy Ltd. has reported an update on its first quarter operations, including detailing progress at its Cardium and Bakken acreage.
**Note that all well counts contained in this press release are net numbers.**
Consistent with our capital plan, the first quarter of 2013 was very active as we drilled 53 wells, placed 40 wells on production and exited the quarter with an inventory of 30 wells waiting to be brought on-stream.
Although well activity decreased from the fourth quarter of 2012, production continued to grow and averaged 49,079 barrels of oil equivalent per day (boepd) (82% light oil and liquids weighted) during the first quarter. This represents a 4% increase over our Q4 2012 average production of 47,192 boepd and a 5% increase over Q1 2012. Current production…
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