The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
During the first quarter, X rig released three (2.5 net) multi-lateral wells in its Northern Exploration Program. The one (0.5 net before payout) exploratory horizontal multi-lateral well at Dawson (5-16-81-16W5) had approximately 7,500 meters of horizontal length as compared to a Figure Lake type curve(1) well with approximately 9,000 meters of horizontal length and recorded an average rate of 81 bbl/d for its 48 days of production before it was shut-in in late March due to winter only access conditions. In April, X, along with its 50% partner, made its election to drill a second earning well at Dawson prior to April 1, 2024. The Company will continue to review data as information is released and monitor performance from the multiple competitor wells in the Dawson / Seal area to inform its follow-on exploration activity.
108 boepd in april
79 boepd in may
26/4-2023 "we have also this wapiti well - producing from the Dunvegan formation - started production in march also - only registered 5 boepd - but as this are not a hole month - we have to wait a month or 3 to see the potentiel for these wells.
https://www.google.com/maps/place/54%C2%B050'10.1%22N+119%C2%B008'37.6%22W/@54.836127,-119.1459717,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.836127!4d-119.143783"
Another good well
106 boepd in april
214 boepd in may
26/4-23 "another i3e wapiti well on pump in march just next door here
https://www.google.com/maps/place/54%C2%B052'04.2%22N+119%C2%B011'50.0%22W/@54.86782,-119.1994147,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.86782!4d-119.197226
registered 37 boepd in march - dont know when in the month it started producing."
Looking good
126 boepd in april
246 boepd in may
26/4-23 "this new wapiti well drilled in march 23 are now on pump - cleaning up - registered 42 boepd (both gas and oil in the well) in march - but it are average for the month regardless that it hasnt produced all month.
https://www.google.com/maps/place/54%C2%B052'04.4%22N+119%C2%B011'49.0%22W/@54.867896,-119.1991327,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.867896!4d-119.196944"
"In total the 2023 programme is
scheduled to deliver 23 gross wells (15.2 net, 70% net i3
operated). Based on the expected performance of these
wells, forecast 2023 annual production is expected to be
in the range of 22,250 to 23,000 boepd, representing a
year-over-year increase of approximately 10% to 13%, with
an expected peak production rate in 2023 of approximately
26,000 boepd. Our budget allocation to the UK is limited to
USD 0.6 million, which will be used to advance the Serenity
one well development to field development plan stage. The
Canadian drilling programme for Q1 2023 has been completed
with wells being equipped and tied into production facilities
for clean-up. Drilling operations will recommence in Q3 2023
when surface conditions allow operations, following the Spring
seasonal wet period."
06/02/23 I3 ENERGY PLC : Q4 2022 Earnings Release (Projected)
2023-04-18 Approved From Signalta Resources Limited to I3 Energy Canada Ltd. 1 facilities
2023-02-16 Approved From I3 Energy Canada Ltd. to Axiom Oil And Gas Inc. 4 wells
2023-02-02 Approved From I3 Energy Canada Ltd. to Axiom Oil And Gas Inc. 33 wells 3 facilities
well data from twitter
https://twitter.com/Jesper_M_Olsen/status/1651199036869824515?s=20
the last well in this drilling campaign - drilled by Bonanza Drilling Inc - was in the Cardium formation - began production in march with registered combined oil and gas in the well with 54 boepd for march.
https://www.google.com/maps/place/53%C2%B004'24.1%22N+114%C2%B042'50.7%22W/@53.073359,-114.7162647,525m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d53.073359!4d-114.714076
we have also this wapiti well - producing from the Dunvegan formation - started production in march also - only registered 5 boepd - but as this are not a hole month - we have to wait a month or 3 to see the potentiel for these wells.
https://www.google.com/maps/place/54%C2%B050'10.1%22N+119%C2%B008'37.6%22W/@54.836127,-119.1459717,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.836127!4d-119.143783
these wells are producing from the cardium formation
another i3e wapiti well on pump in march just next door here
https://www.google.com/maps/place/54%C2%B052'04.2%22N+119%C2%B011'50.0%22W/@54.86782,-119.1994147,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.86782!4d-119.197226
registered 37 boepd in march - dont know when in the month it started producing.
this new wapiti well drilled in march 23 are now on pump - cleaning up - registered 42 boepd (both gas and oil in the well) in march - but it are average for the month regardless that it hasnt produced all month.
https://www.google.com/maps/place/54%C2%B052'04.4%22N+119%C2%B011'49.0%22W/@54.867896,-119.1991327,503m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d54.867896!4d-119.196944
this clearwater well are under D & COMP - currently gas coming up
https://www.google.com/maps/place/55%C2%B047'33.9%22N+114%C2%B040'45.9%22W/@55.79276,-114.6816047,491m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d55.79276!4d-114.679416
this gas battery
https://www.google.com/maps/place/52%C2%B038'32.0%22N+114%C2%B037'40.7%22W/@52.642224,-114.6301487,530m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d52.642224!4d-114.62796
are also now moving up in production again:
on production in july last year
jul - 347 boepd
aug - 1008 boepd
sep - 1308 boepd
oct - 1271 boepd
nov - 1141 boepd
dec - 1010 boepd
jan - 976 boepd
feb - 820 boepd
mar - 840 boepd
this gas battery
https://www.google.com/maps/place/52%C2%B042'51.8%22N+115%C2%B006'26.2%22W/@52.71438,-115.1094727,529m/data=!3m2!1e3!4b1!4m4!3m3!8m2!3d52.71438!4d-115.107284
are now moving up in production again:
on production in oct last year
oct - 190 boepd
nov - 976 boepd
dec - 873 boepd
jan - 790 boepd
feb - 791 boepd
mar - 891 boepd
looking good
Number of producing wells in AB
08-22 - 716 wells
09-22 - 716 wells
10-22 - 721 wells
11-22 - 721 wells
12-22 - 712 wells
01-23 - 728 wells
02-23 - 731 wells
03-23 - 726 wells
Vesting is subject to the achievement of performance-related milestones as follows:
- One-third upon achieving production of 26,000 boepd;
- One-third upon the addition of 5,000 boepd via acquisitions; and
- One-third upon the addition of 25 MMbbl of 2P reserves.
what ??