Devon spent over $100M to develop this field and they will extract 10-12M barrels of oil.
I wonder what the NPV is on this field. I bet it would be a lot less than the NPV for Grieve (ie. Grieve has more oil and less capital cost). Developments like this really confirm the upside for ELK.
"Workers started injecting CO2 into the wells on July 1, and the company expects to see ramped-up production probably at the beginning of October"
It looks like Devon is not waiting for the field to be fully repressurised.
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
