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Storm Resources Lowers Capex, Updates Drilling Plan
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Storm Resources has released its 2015 outlook and 2014 Results:
2015 Outlook Production in January 2015 averaged 10,060 Boe per day based on field estimates and production in the first quarter of 2015 is forecast to be 9,500 to 10,000 Boe per day which includes three to five days of downtime at Umbach for piping connections associated with the expansion of the second field compression facility. Capital investment in the first quarter is expected to total $35.0 to $38.0 million which includes drilling six Montney horizontal wells (6.0 net), completing two horizontal wells (2.0 net), constructing a 15-kilometer pipeline connection to the Stoddart Gas Plant and expanding the second field compression facility at Umbach. At Umbach, the existing field compression facilities are full and there…- ✓ Full news archive — U.S., Canada & international coverage
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