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     345  0 Kommentare PRD Energy Announces Operational Update

    CALGARY, ALBERTA--(Marketwired - Nov. 25, 2014) - PRD Energy Inc. ("PRD" or the "Company") (TSX VENTURE:PRD) announces filing of its financial statements and operating results as at and for the nine months ended September 30, 2014, and provides an operational update on activities to date as well as an outlook for the remainder of 2014. The Company's interim condensed consolidated financial statements and management's discussion and analysis for the reporting period will be available on SEDAR at www.sedar.com and posted on the Company's website at www.prdenergy.de. All references to dollars or "$" in this news release are references to Canadian dollars.

    As a result of the recent decline in commodity prices, the Company has conducted an internal evaluation of its three primary near term projects: Boerger, Volkensen and Sittensen. All three projects remain economically viable in the current pricing environment based on our capital and reservoir assumptions. However, the Company is revising its guidance on expected timing of these activities as a result of regulatory delays and corporate planning initiatives to conserve cash and maximize asset values.

    Boerger Field

    The Company is in discussions with its joint venture partner to become the designated operator of the Boerger pool (through either acquisition of the partner's interest or by mutual agreement) in order to accelerate development timeframes for the Boerger pool. The Company plans to drill two to three deviated wells from the Boerger 7A well site in the second quarter of 2015, as the next stage of development for the Boerger pool, conditional on the Company becoming the designated operator during 2014 or early 2015. The Company believes deviated wells are the optimal well design for drilling into the underlying reservoir structure and should reduce operational risk and capital exposures when compared to horizontal wells, as originally planned. The Company's current cost estimate for its 50% working interest share is $2,250,000 for each deviated well, including drilling, completion and equipping the wells.

    During the three months ended September 30, 2014, the operator produced the Boerger 7A well intermittently in order to carry out pressure transient well testing and produced a total of 3,091 barrels during 34 days of operation. Since being placed on production on February 24, 2014 until September 30, 2014, the Boerger 7A well has completed 136 operating days and has produced a total of 19,023 barrels of oil, or an average of 140 bbls/d, when operational. PRD is encouraged by the initial results of this well, but believes that the well is not producing to its full capability as a result of ongoing reservoir testing and other operational issues, as well as failure to produce from the full horizontal length of the well. The Company is evaluating various workover and stimulation possibilities to increase the performance of Boerger 7A well, in the event the Company obtains operatorship.

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    PRD Energy Announces Operational Update CALGARY, ALBERTA--(Marketwired - Nov. 25, 2014) - PRD Energy Inc. ("PRD" or the "Company") (TSX VENTURE:PRD) announces filing of its financial statements and operating results as at and for the nine months ended September 30, 2014, and provides an …