​New Montney wells could deliver strongest economics for Painted Pony

Image: Joey Podlubny/JWN

Painted Pony Energy says two new wells drilled in the southern block of its land on the northeast B.C. side of the Montney play could provide the best economics in its portfolio.

The wells, located in an area known as South Townsend, have yielded ‘significant’ higher value natural gas liquids at rates higher than management’s expectations, the company said in a statement last week.

"Painted Pony is encouraged by the results to-date and anticipates re-directing a portion of drilling activity within the existing 2018 development budget to better capitalize on these well results," Painted Pony said.

The company drilled two Lower Montney horizontal test wells from a single pad to vertical depths of approximately 2,000 metres and lateral lengths of approximately 1,900 metres. The first well averaged an estimated production rate of approximately 3,600 boe/d, 41 per cent liquids, during the initial 24 hour test period of stabilized production flow. This production rate included 12.7 mmcf/d of natural gas and an estimated 1,475 bbls/d of natural gas liquids (85 per cent condensate).

The second well averaged an estimated production rate of more than 2,300 boe/d, 39 per cent liquids, during the initial 24 hour test period of stabilized production flow. This production rate included 8.6 mmcf/d of natural gas and an estimated 900 bbls/d of natural gas liquids (82 per cent condensate). The flowing pressure of the well during the initial 24 hours of the 14 day test period was 2,300 psi through a 9/16-inch choke.

During the final 24 hours of the 14-day production test period the d-E57-H well averaged a production rate of over 2,275 boe/d (38 per cent liquids) including 8.5 mmcf/d of natural gas and an estimated 865 bbls/d of natural gas liquids (82 per cent condensate).

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