Drilling & Completions | Quarterly / Earnings Reports | Second Quarter (2Q) Update | Drilling Activity

Raging River Talks Q2 Results Ahead of Baytex Merger; Viking, Duvernay Update

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Raging River Exploration reported its Q2 2018 results ahead of the finalization of its merger with Baytex.

Highlights:

- Achieved quarterly average production of 23,611 boe/d (93% oil) - up 7% YOY

Ops

Duvernay

The two Duvernay wells, Ferrybank (02-20) and Gilby (01-20) that were drilled and uncompleted in the first quarter of 2018, have both been successfully completed and were recently placed on-stream.  First oil was recently witnessed on both wells however it is anticipated that no meaningful rates will be available for at least another 45-60 days.

Raging River is currently drilling two follow up locations approximately 5 miles southwest of our Duvernay light oil discovery well at 14-36 in the Pembina area.  Drilling of both wells will be complete within the next 10 days and completion operations on the wells are expected to begin in mid-September. The 14-36 well discovery continues to exhibit strong production performance with average production in June (based on field estimates) of 450 boe/d (86% light oil and NGL’s).

Additional follow up locations are currently being licensed in both the Pembina and Ferrybank areas to allow for potential expanded activities later in the fourth quarter.

Viking

During the second quarter of 2018, the Company drilled 51.5 net Viking horizontal light oil wells with a 100% success rate.  Four drilling rigs and one fracture stimulation crew are currently executing our development program. The Viking asset base continues to generate significant free cash flow that is currently being allocated to fund our ongoing Duvernay light oil evaluation program.