Post Tagged with: "Wembley"

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…]