re: Ann: Development Update for Snake River M...
The 6 wells awaiting to be tied in appear to be 1 X SWD and 5 X production. Tie in will happen during November it seems. Given a few days for clean up, its likely the fruits of this will only hit for the December production figures. Conceivably this could be around 400BOEPD coming online in one hit but we have to wait a few weeks to see it. Looks like they will meet their 1000 boepd exit rate.
Sept Production looks to be the approx the same as August - it does not appear they have added to producing wells
Second rig looks to be in the bag. Also perhaps increased drill rate per rig. At 10 days per well, 2 rigs can do 18 wells per quarter. Triple the rate of our 6 per quarter (currently), and probably more efficient since rig transport and set up will be minimised.
AOK Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
