Another strong production update
• The Pisces #8 and #9 wells have now been tied in.
• The aggregate initial flow rate of >500 boe/d is in line with expectations. The IP30 production for a Pisces type well is 230 boe/d.
• Production in 1Q23 to date is ~4,500 boe/d. With the contribution of the two new Pisces wells, our forecast of 4,325 boe/d in 1Q23 could prove to be too conservative.
• We continue to forecast that Calima will produce 4,450 boe/d in 2023.
• The WCS discount to WTI has also red ....
21 Mar 2023
Calima Energy Ltd (ASX: CE1): Another strong production update
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Calima Energy Ltd (ASX: CE1): Another strong production update
Another strong production update
• The Pisces #8 and #9 wells have now been tied in.
• The aggregate initial flow rate of >500 boe/d is in line with expectations. The IP30 production for a Pisces type well is 230 boe/d.
• Production in 1Q23 to date is ~4,500 boe/d. With the contribution of the two new Pisces wells, our forecast of 4,325 boe/d in 1Q23 could prove to be too conservative.
• We continue to forecast that Calima will produce 4,450 boe/d in 2023.
• The WCS discount to WTI has also red ....