Production | Key Wells
Petroshale Ups Production Over 100%; Credits Bakken Ops
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PetroShale Inc. has reported an estimate of our current production volumes.
Production has commenced from 5 gross (1.3 net) wells recently completed and tied-in to gas processing and transportation infrastructure. Total Company production, including these new volumes, is approximately 1,600 to 1,700 Boepd (1,250 to 1,320 Boepd net of royalty interest), an increase of 118% and 218% from our average first quarter 2015 and fourth quarter 2014 production, respectively. We anticipate these new wells, which form a significant portion of our corporate production, will be subject to natural declines as they mature.
Despite the challenging conditions currently facing the oil and gas industry, we continue to be encouraged by the performance of our US assets. By deliberately targeting land within…
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