Drilling & Completions | Drilling / Well Results | Initial Production Rates | Drilling Activity
Prairie Provident Reports Two Successful Wells at Peace River
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Prairie Provident Resources reported successful drilling and completion results from its core Evi area in the Peace River Arch.
PPR recently drilled four exploration wells in its core Evi area.
Two of the wells were successful, with an initial combined swab/flow test rate of about 300 bopd which exceeded management’s expectations. One of the wells is still being evaluated and one well was not successful.
Average drill costs for the four Granite Wash wells came in under budget. The two successful Granite Wash wells are currently being tied-in, and are expected to be brought on production in early December.
Preps to Begin Slave Point Drilling
To reduce rig moving costs, the Company will now begin drilling two lower-risk Slave Point light-oil development wells in Evi. The Slave Point wells are expected to be brought on production in the first quarter of 2019. With the capital costs spent on the Granite Wash drilling program and resulting successful test results, PPR reconfirms its 2018 capital budget of approximately $29 million and 2018 average production of 5,200 to 5,600 boe/d.
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