Join our daily newsletter At The Bell to receive exclusive market insights
- Calima Energy (CE1) starts its four-well drilling campaign at the Brooks project in Alberta, Canada
- The drilling program will include two wells at Gemini and two wells at Pisces
- At Gemini, horizontal wells will be drilled (eight and nine) which will target the Sunburst Formation in two known pools
- At Pisces, two horizontal wells will be drilled at the Glauconitic Formation, following up on previous wells drilled by Blackspur
- Additionally, In North Thorsby, the company said its Leo #4 well — drilled in early 2022 — will be fractured stimulated, completed and flow tested this month
- CE1 shares are down 2.33 per cent and trading at 21 cents each at 10:44 am AEST
Calima Energy (CE1) has commenced its four-well drilling campaign at the Brooks project in Alberta, Canada.
The drilling program will include two wells at Gemini and two wells at Pisces.
At Gemini, horizontal wells will be drilled (eight and nine) which will target the Sunburst Formation in two known pools. Gemini #8 follows the successful Gemini #5 vertical well that was drilled in January.
Gemini #9 will follow up on Gemini #3 drilled last year which recovered 74,000 barrels of oil. The well is being drilled from the sam pad as Gemini #3.
Gemini #8 has been spudded with Gemini #9 spudded in mid-June.
At Pisces, two horizontal wells will be drilled at the Glauconitic Formation. Pisces #4 will follow up the most productive Glauconitic well previous drilled by Blackspur and has since recovered 133,000 billion barrels of oil since mid-2018.
Pisces #5 is a follow up to a first generation Glauconitic well previously drilled by Blackspur in 2014.
Pisces #4 and #5 will spud in late June/early July.
Additionally, In North Thorsby, the company said its Leo #4 well, that was drilled in early 2022, will be fractured stimulated, completed and flow tested this month.
“The company has officially kicked off its postspring break-up drilling program,” CEO and President Jordon Kevol said.
“The wells scheduled for Q3-2022 are getting a head start based on favourable weather conditions and the availability of a preferred drilling rig. Drilling is anticipated to take six weeks for the four wells and first production is expected from the Gemini wells by
31 July as the wells are on lease tie-ins.”
On the market, CE1 shares were down 2.33 per cent and trading at 21 cents each at 10:44 am AEST.
