Global Leader in International Production Industry News

posted in:

Crocotta Energy provides operational update

Thursday, Nov 29, 2012

Crocotta Energy Inc. ("Crocotta" or the "Company") (TSX:CTA) is pleased to announce that current production is estimated to be 8,200 boepd (67% gas; 33% light oil and natural gas liquids). Crocotta is currently drilling at Edson and projects it will have an additional 2 (1.0 net) cardium wells and 1 (1.0 net) Bluesky wells on production by mid-December and, based on type curves, will exceed its exit target of 8,500 boepd with an approximate $90 million in 2012 capital expenditures.

Initial production rates for both Bluesky and Cardium have been at or above our type curves with drilling and completion costs coming in slightly below our estimates. Given current reduced costs combined with our drilling success to date, Crocotta is looking at drilling 1 (1.0 net) cardium well, 1 (0.60 net) Bluesky well and completing 1 (1.0 net) Montney well that was originally budgeted for 2013. The corresponding costs would be additive to the 2012 capital expenditures above and such wells would be completed and onstream during Q113.

Source: Marketwire

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Production News

Drilling and production update 18-04-2014
Dejour sees 60% increase in net production at Woodrush 16-04-2014
Oil and gas drilling and production brought to life 15-04-2014
Platform P-20 resumes production 09-04-2014
Gastar Exploration announces Marcellus shale production temporarily interrupted due to rupture of third party-operated pipeline 09-04-2014
Petrobras starts-up third well at SapinhoĆ” field and registers a new monthly production record in the pre-salt 07-04-2014
Production March 2014 07-04-2014
New Zealand Energy reports 2013 year-end reserves and production update 03-04-2014
Drilling permit for well 7324/7-2 in production licence 537 03-04-2014