Current BBI:CA Stock Info

Blackbird Energy Inc. (ticker: BBI) has provided an update regarding its operations. Blackbird’s total corporate January sales production averaged an estimated 1,978 BOEPD (58% liquids) for the 17 days the company was able to produce during the month.

Estimated sales production averaged 1,056 BOEPD on a calendar day basis through January, with volumes being impacted by approximately 14 days of unscheduled third-party downtime.

Productive wells

Blackbird said that its 1-20-70-7W6 Upper Montney development well was flowed back on clean-up for approximately 11 days. Over the final 48 hours of the production test, prior to running production tubing, the well flowed at 1,054 BOEPD (54% liquids).

Blackbird recently tied-in a total of 8 net wells. Management estimates these wells have an unrestricted productive capacity in excess of 3,800 BOEPD. In addition, the company expects to test its 2-20-70-6W6 Middle and 3-27-71-7W6 Upper Montney delineation wells in February and March, respectively.

More acreage

Blackbird has acquired an additional 3 (2.0 net) sections of Montney rights, bringing total land holdings to 134 (114.5 net) sections in the Pipestone/Elmworth corridor.

CEO Braun comments

“A key objective for Blackbird has been to further define the liquids potential, reservoir pressure and productivity of its Pipestone/Elmworth Montney play. With the strong results to date, including our most recent well testing at a short-term rate of 1,054 BOEPD, we believe we are in the late stages of de-risking the majority of our acreage,” said Blackbird President, CEO and Chairman Garth Braun.

“Blackbird now has 8 (8.0 net) wells tied-in on its Western Development Block. Based on management estimates, the current productive capacity of these wells is in excess of 3,800 BOEPD, which we believe further validates the productivity of our resource. In addition to our operated production, 5 (1.2 net) non-operated wells are expected to be tied-in and brought on production over the next two quarters,” Braun said.

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