Post Tagged with: "Valhalla"

Surge Energy Exits 2017 with 15,850 BOEPD

Surge Energy Exits 2017 with 15,850 BOEPD

Surge Energy Inc. (ticker: SGY) produced on average 15,675 BOEPD in Q4 2017 and exited 2017 with 15,850 BOEPD. For 2018, the company’s production guidance stands at 16,150 BOEPD. The company reported adjusted funds flow of $32.17 million, or $0.14 per share for Q4 2017. For 2017, the company reported adjusted funds flow of $103.81 million, or $0.45 per share. Total capital expenditures for Q4 and FY2017 were $22.7 and $170.93 million, respectively. Early in Q1 2018 Surge closed the disposition of a non-core asset. The assets disposed were comprised of approximately 240 BOEPD, and the sale proceeds were $6.8 million. The proceeds from this non-core sale were used to reduce the company’s indebtedness. 2018 Sparky, Valhalla and Shaunavon In Q4 2017, the company drilled seven gross/net wells in three core areas. Surge reported a 100% success rate for the drilling program. Sparky In Q4 2017 Surge drilled three wells[Read More…]

Advantage Oil & Gas: $175 Million 2018 Budget from Cash Flow

Advantage Oil & Gas: $175 Million 2018 Budget from Cash Flow

Advantage Oil & Gas Ltd. (ticker: AAV) said that the company’s board of directors has approved a 2018 capital budget of $175 million. The budget is funded through cash flow and will advance the Montney development and increase liquids production growth through 2018. Other assets at Glacier, Valhalla, Wembley, and Progress will also be developed. Advantage recently developed a four well pad at Valhalla, which demonstrated a combined initial production flow rate of 6,410 BOEPD comprised of 32 MMcf/day gas and 1,075 bbls/day of liquids (based on Glacier gas plant shallow cut extraction process) with certain liquid yields comprised of 90% free condensate/oil in excess of 100 bbls/MMcf. Middle Montney results at Glacier in 2017 confirmed well performance improvements from frac design technology changes. These changes will be applied to high liquids rich areas and reservoir layers within the company’s Montney lands. In addition, well results from Wembley and Progress[Read More…]