Chinook announced that it completed 3 (2.75 net) previously drilled wells at its Birley/Umbach property citing that costs to drill, complete, equip, and tie-in the wells averaged $4.6 mm per well, or a ~40% reduction to 2014 costs. As a result of the cost savings, Chinook’s 2015e capital budget is being reduced to $49 mm from $55 mm. The Company has been shutting in any non-firm processing or transportation volumes in light of pipeline service restrictions and had 16.3 mmcf/d of production shut- ....
19 Oct 2015
Birley/Umbach Development Continues on Track While Managing Production Levels During Pipeline Service Restrictions
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Birley/Umbach Development Continues on Track While Managing Production Levels During Pipeline Service Restrictions
CHINOOK ENERGY (CKE:TSE) | 0 0 -5.0% | Mkt Cap: 44.7m
- Published:
19 Oct 2015 -
Author:
Robert Fitzmartyn -
Pages:
7
Chinook announced that it completed 3 (2.75 net) previously drilled wells at its Birley/Umbach property citing that costs to drill, complete, equip, and tie-in the wells averaged $4.6 mm per well, or a ~40% reduction to 2014 costs. As a result of the cost savings, Chinook’s 2015e capital budget is being reduced to $49 mm from $55 mm. The Company has been shutting in any non-firm processing or transportation volumes in light of pipeline service restrictions and had 16.3 mmcf/d of production shut- ....