Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
Twin Butte Shifts to HZ as Vertical Declines Steepen
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Twin Butte Energy Ltd. has reported its financial and operational results for the three months ended March 31, 2014.Highlights of Twin Butte's successful first quarter 2014 are as follows:
Record average first quarter production of 22,529 boe/d which is up by 31% from first quarter 2013 while increasing the oil and liquids weighting to 91% from 87%. Completed an organic capital program of $37.9 million including the drilling of 34 gross (34 net) wells at a 94% success rate. Over 70% of the first quarter capital plan was focused on horizontal drilling activity with 60% of the plan focused at the Company's medium oil Provost property. Corporate:During the first quarter, Twin Butte completed the successful integration of its fourth quarter 2013 acquisition of Black Shire Energy Inc…
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