Blackbird: looking at 2 tons per linear meter, coarser proppant, 40 stages
Blackbird Energy (ticker: BBI) is a technology-focused oil and gas exploration and development company working in the liquids-rich Montney fairway at Elmworth, near Grande Prairie, Alberta. Blackbird holds a 100% working interest in 83.75 sections of highly prospective Montney rights.
Blackbird Energy’s Chairman and CEO Garth Braun spoke to Oil & Gas 360®’s Angie Austin at the EnerCom conference in Denver last week. Braun talked about success achieving his company’s milestones, the recent investment in Stage Completions, Blackbird’s 84 sections in the liquids-rich Montney shale fairway, its infrastructure build-out and upcoming plans to drill the Montney assets.
Source: Blackbird Energy
Interview Questions
- Garth, Blackbird recently announced a $3 million cash investment to acquire a 10% minority interest in a company called Stage Completions, a company that developed a disruptive sliding sleeve completion technology. Can you talk about the strategy behind that investment and also the technology itself—what makes it disruptive, how does it work, how is it different? And what are the benefits coming to Blackbird from owning a piece of this technology?
- Let’s talk about the Elmworth asset and your operations. You’re in the liquids-rich Montney in northern Alberta—almost 84 sections of land under your control there—you have 100% working interest. You’re getting ready to spud a fourth well — it will target the Upper Montney. Can you talk about the zones you are targeting in the well – and update us on the results of your drilling program thus far.
- In your presentation, you mention moving to cash flow in 2016. And the company’s counter-cyclical approach to land acquisition and take-away solutions. Could you take us through how that works—takeaway, infrastructure buildout, drilling—how everything fits together on your timeline?
- The Montney is a very interesting play that has attracted a lot of big operators—Encana, NuVista, Apache and Shell are your neighbors at Elmworth—can you talk about their drilling programs near your acreage, what are they saying about the play, what are their wells showing?
- In your presentation you say Blackbird is transitioning from exploration to development in 2016. Could you take us through your drilling location inventory, the spacing, the lateral lengths. What is the timeline to develop the asset – what do you need to do in terms of processing and takeaway infrastructure, and how much capital will you need to ramp up a program?
Blackbird’s Breakout Notes from the 2016 EnerCom conference are available here.
You can listen to Blackbird Energy’s 2016 EnerCom presentation/webcast here.
For the company’s latest quarter results, click here.
Blackbird’s downloadable quarterly analytics profile by EnerCom is available here.
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