- Calima Energy (CE1) fractures Pisces 8 and 9 wells within its Brooks operation in Canada, ahead of production scheduled for mid to late March
- Installation of downhole pumping equipment is due to begin shortly at the wells before a testing period to clean up the initial frac fluid flowback
- Calima CEO and President Jordan Kevol says its operation team continues to optimise flow rates to achieve new production peaks
- The company says the use of same surface location enabled significant cost savings
- Calima shares’ are down 3.57 per cent, trading at 13.5 cents at 11:50 am AEDT
Calima Energy (CE1) has fractured its Pisces 8 and 9 wells within its Brooks operation in Canada, as it heads towards production scheduled for mid to late March.
The wells were fractured as part of a back-to-back program, and the installation of downhole pumping equipment is set to begin shortly.
Calima CEO and President Jordan Kevol said the company looks forward to adding towards its production volume.
“The fracturing on Pisces 8 and 9 went extremely well and we are very excited about the additional production the Pisces wells will add to our existing production base,” he said.
“In the last four months the company has successfully drilled seven wells with production averaging more than 4,550 barrels of oil equivalent per day (boe/d) year to date from the Brooks and Thorsby assets.”
Mr Kevol added that Calima’s operation team continues to optimise flow rates to reach new production peaks.
“We look forward to a strong Q1 production result, which is anticipated to be above our forecasts,” he commented.
The lateral length of both Pisces wells fractured exceeded more than 2500 metres.
The company said the use of same surface location enabled significant cost savings.
Calima shares’ were down 3.57 per cent, trading at 13.5 cents at 11:50 am AEDT.