Exploration & Production | Top Story
Terrace Energy Encouraged by Results in Olmos Play
Print
|
Terrace Energy Corporation has reported the Company and its partner, BlackBrush Oil & Gas have drilled 8 successful wells in the STS Olmos Project and have identified approximately 160 gross additional locations on the existing leasehold.
Results to date have been extremely encouraging. The most recent 4 wells have generated 30 day IP rates averaging nearly 600 BOPD (over 1000 BOEPD*) and have produced over 100,000 barrels of oil to date. These 4 wells are currently flowing at a combined rate of over 3,000 BOEPD*.
The Company and its partner are currently finalizing drilling plans and budgets to move the project from delineation into development phase early in Q1 2014 which will include multi-well drilling pads designed to optimize capital costs and improve infrastructure efficiencies.
In…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
Canada News
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Canadan E&P 2026 Program Calls for 448 Net Wells, Up 24% vs. 2025 Plan
Canadian Natural Resources outlined a 2026 operating capital budget of approximately $6.3 billion (total capital budget $6,425 million, including $125 million for carbon capture) targeting 1,590–1,650 MBOE/d of…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…
ARC Resources: Lower 2026 Capex, Higher Volumes
ARC Resources used its third quarter update to reinforce a familiar message to Canadian E&P executives: disciplined capital, structurally better market access, and a growing shareholder return program…