Coincidentally2 Aug 2023 09:43
As we moved from 1.6 to 2.7 backed by high volume, the below is happening, technology unlocking asset true value
Β· Construction of the BFSU's $4.5 million high-pressure gas gathering system upgrade is on target for completion this month as previously disclosed.
o The high-pressure gas gathering pipeline system has been installed, and tested and is awaiting the following:
Γ Delivery of the first three of eight high-working pressure wellsite/production separation facilities required for the upgrade is anticipated by week's end, with the balance of the units being delivered over the following two weeks. Six of these units were fabricated in Alberta to specifications for winter operations common in Alberta, Canada which should mitigate the issues experienced at the BFSU during the winter of 2023.
Γ Upon installation of the wellsite/production separation facilities, the system will be commissioned.
Β· Three conversions of BFSU flowing wells to pumping-flowing wells have been completed:
o The well conversions have been successful as the well's production performance has been within expectations.
o Production downtime has been reduced significantly, with downtime in June temporarily related to pipeline construction.
o The Company has been conducting and evaluating different paraffin remediation treatments and schedules to optimize production from these wells.