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clock Created with Sketch. 23/01/15
11:07
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Originally posted by CJTJ
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cougar,The well is expected to produce increasing volumes of oil as it cleans up from fracture stimulation and the frack fluid is produced back.” The present oil production rate is 62 barrels per day (46 net to Pryme), we expect this rate to increase as frack fluid is produced and the well cleans up. The average rate of increase in oil production for the past week was over 12% per day. Approximately 170 net feet (51 net metres) of oil and gas saturated sandstones, limestones and shales were encountered during drilling of the McCain well.
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Every well that produces in some form starts to derisk the whole project - and add leverage when the oil price turns in coming months.
