Prospera Energy Inc. Commences Modular Horizontal Infill Well Program to Capture 400 million barrels of Remaining Oil
16 8월 2023 - 3:00PM
Prospera Energy Inc. (“Prospera” or the “Company”) (TSX.V: PEI,
OTC: GXRFF, FRA: OF6B, OF6B.SG, OF6B.F, OF6B.BE).
Prospera is pleased to announce the spudding of
the first horizontal well of the ten well modular multi-pad infill
drill program in the latter part of this week, subject to any
weather-related or uncontrollable delays. Close to a hundred
services have been coordinated along with lease preparation,
permits and licences. This modular multi-pad infill drill program
stems from a comprehensive geological, seismic, and reservoir
management delineation designed to optimize recovery with optimum
wells in a cost-effective manner while also aligning with planned
enhanced and improved recovery techniques. As previously announced,
this ten well program can approximately add an additional 750 bpd
at a low decline to Prospera’s current 900+boepd. This modular
development is intended to accelerate production and recovery to
capture the significant remaining heavy oil reserves (400 million
bbls).
The medium-light oil spud will follow the heavy
oil horizontal well transformation from vertical wells in the
latter part of this month. These slanted drills are awaiting the
preparation of the new leases, surface facilities and connecting
pipelines. The medium-light oil development entails six to eight
directional wells that can add an additional 600bpd (gross) at 50%
WI diversifying Prospera’s product mix and improving margin.
Overall, this phase 2 development plan will
allow Prospera Energy to become a low-cost producer with a
significant increase in production. Meanwhile, PEI will continue to
execute its liability management plan to reduce the asset reduction
obligations and minimize its environmental footprint. This involves
efforts to reduce and eventually eliminate emissions, alongside
pursuing innovative ESG methods to enhance API quality, thereby
achieving higher margins and eliminating the need for diluents.
About Prospera Energy Inc.
Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF,
FRA: OF6B) is a publicly traded energy company based in Western
Canada, specializing in the exploration, development, and
production of crude oil and natural gas. Prospera Energy Inc. has
announced a mid-August spud of PEI’s phase 2 restructured
development program intended to increase production. The phase 2
development entails the drilling of 10 horizontal wells in heavy
oil and 8 slanted wells in medium-light oil to accelerate growth
and capture the significant remaining reserves (400 million bbls).
These horizontal laterals and slanted wells will allow PEI to
increase production by approximately 1,000bpd with recovery of
approximately 100Mstb per well. PEI will reduce its environmental
and surface footprint by eliminating the numerous vertical well
leases along the lateral path. Phase III of Prospera’s corporate
redevelopment strategy will focus on continuing the company’s
horizontal modular development to appreciate production and
optimize recovery of remaining reserves. Prospera intends to
implement full-scale EOR applications based on the results of its
Phase II pilot program, which is forecasted to optimize recovery by
greater than 10%. Prospera also intends to continue its acquisition
strategy to diversify its product mix. Its goal is to attain 50%
light oil, 40% heavy oil and 10% gas – all while continuing to
eliminate carbon emissions as part of its existing ESG
initiatives.
For further information, please
contact:
Shawn Mehler, PR
shawn@prosperaenergy.comwww.prosperaenergy.com
FORWARD-LOOKING STATEMENTS This
news release contains forward-looking statements relating to the
future operations of the Corporation and other statements that are
not historical facts. Forward-looking statements are often
identified by terms such as “will,” “may,” “should,” “anticipate,”
“expects” and similar expressions. All statements other than
statements of historical fact included in this release, including,
without limitation, statements regarding future plans and
objectives of the Corporation, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements.
Although Prospera believes that the expectations
and assumptions on which the forward-looking statements are based
are reasonable, undue reliance should not be placed on the
forward-looking statements because Prospera can give no assurance
that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks. These include, but are not
limited to, risks associated with the oil and gas industry in
general (e.g., operational risks in development, exploration and
production; delays or changes in plans with respect to exploration
or development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty of estimates and projections
relating to production, costs and expenses, and health, safety and
environmental risks), commodity price and exchange rate
fluctuations and uncertainties resulting from potential delays or
changes in plans with respect to exploration or development
projects or capital expenditures.
The reader is cautioned that assumptions used in
the preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of Prospera. As a result, Prospera
cannot guarantee that any forward-looking statement will
materialize, and the reader is cautioned not to place undue
reliance on any forward- looking information. Such information,
although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may
differ materially from those anticipated. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement. Th forward-looking statements
contained in this news release are made as of the date of this news
release, and Prospera does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by Canadian securities
law.
Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release.
Prospera Energy (TSXV:PEI)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Prospera Energy (TSXV:PEI)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024