Exploration & Production
Petrobakken Update Bakken and Cardium Drilling Activity
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PetroBakken Energy Ltd. provided an update on third quarter operations and planned fourth quarter activity. Our third quarter average production was 38,400 barrels of oil equivalent per day (boepd) (84% light oil and NGLs), based on field estimates, comprised of over 15,800 boepd from the Bakken business unit, 14,700 boepd from the Cardium business unit, and the remainder from the Saskatchewan Conventional and AB/BC business units.
This production level is relatively flat to the third quarter of 2011, primarily resulting from the disposition of producing assets in the first half of 2012 and a delayed start to our second half 2012 capital program. Production for September 2012 was 39,200 boepd based on field estimates, a slight increase over second quarter 2012. Currently, as a result of…
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