Highlands, the London-listed natural resources company, is pleased to announce that oil production rates from the pad at its East Denver project have achieved an Initial Production (‘IP’) rate of 4600 boe/d during the flow-back period. Highlands expect that the oil and gas production rate will increase as the choke size is increased.
Production Details Summary:
- Combined oil production from Buckskin, Citadel, Grizzly, Hagar, Ouray, Thunder, Wildhorse and Powell wells is 4053 bpd.
- Combined gas production from Buckskin, Citadel, Grizzly, Hagar, Ouray, Thunder, Wildhorse and Powell wells is 3 284 000 ft3/d.
- Highlands’ operating partner has chosen to proceed on a conservative flowback plan. The wells will be slowly opened from the current limited choke size of 23/64th in.
- Highlands has a 7.5% carried interest in all eight wells located at the East Denver project.
As well as benefiting from the recently recovered oil prices, Highlands and its operating partner benefit from strong pricing for its gas, which is rich in liquids. Highlands received revenues both from the stripped liquids and the residual gas. While the price for both the liquids and residual gas fluctuates, the effective sales price for the residual gas in the pipeline since commencement of operations was US$2.88/thousand ft3.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/25022019/highlands-natural-resources-plc-colorado-shale--east-denver-wells-ip-rate-announcement/