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Second Wave refining of petroleum wikipedia deutsch Petroleum Inc. Achieves Company Manufacturing Of three,000 Boe/d With Judy Creek Beaverhill

CALGARY, Dec. 16, 2011 /CNW/ – Second Wave Petroleum Inc. (TSX:SCS) (“Second Wave” or the “Company”) is happy to announce that company manufacturing has reached approximately 3,000 boe/d (80% oil and natural gasoline liquids) in mid-December with continued success on its Judy Creek Beaverhill Lake mild oil play.

– Company manufacturing primarily based on field estimates has reached roughly three,000 boe/d (eighty% oil and pure fuel liquids) in mid-December with its Judy Creek Beaverhill Lake manufacturing growing to roughly 2,000 boe/d (ninety% mild oil).

– The company has drilled, completed and brought on manufacturing thirteen (6.Four net) Beaverhill Lake horizontal oil wells in 2011 with a median production charge over the primary 30-day check interval exceeding 650 bbl/d per well.

– The corporate constructed three separate Beaverhill Lake batteries in Judy Creek within the fourth quarter and is positioned to internally course of all of its Beaverhill refining of petroleum wikipedia deutsch Lake emulsion by the end of the 12 months, which is anticipated to cut back operating prices on its Beaverhill Lake manufacturing base.

By way of the fourth quarter the company has continued operating three drilling rigs on its Beaverhill Lake light oil drilling program in Judy Creek. The company has spud its 20th (9.2 internet) Beaverhill Lake horizontal properly in 2011 with 13.Zero (6.Four web) wells completed and on manufacturing, four.Zero (1.6 internet) wells standing waiting on completions, and three (1.2 internet) wells currently drilling. The corporate expects to finish 1.0 (zero.Four web) further Beaverhill Lake horizontal oil well in 2011 prior to 12 months finish and exit the year with three.Zero (1.2 web) horizontal oil wells standing awaiting completion.

Gross light oil test charges and present manufacturing charges on the company’s 2011 Beaverhill Lake wells are famous in the desk under.

* Well shut in for pressure construct-up
So far the results from the company’s drilling program has continued to exceed expectations with the estimated manufacturing rates from the first 13 wells averaging over 650 bbl/d over the first 30-day take a look at interval.

The corporate successfully completed 5.Zero (2.6 web) Beaverhill Lake horizontal oil wells within the fourth quarter and expects to finish 1.0 (zero.4 web) additional well previous to yr end. In the quarter the corporate skilled operational difficulties in the course of the stimulation of 2.0 (zero.8 net) horizontal nicely bores, both of which required additional bottom hole remediation work prior to re-commencing the frac operation. The company is planning to have both wells re-stimulated by the end of fourth quarter. The re-stimulations of these two properly bores will eat two further scheduled frac dates, resulting in the corporate finishing a total of eight fracturing operations within the quarter to fully stimulate solely six wells, and push the stimulation and first production from 2.Zero (zero.Eight internet) additional horizontal oil wells into the primary quarter of 2012. The delay in bringing on preliminary manufacturing from the 2 wells requiring re-stimulation may even negatively affect the corporate’s average production rate for the fourth quarter of 2012. The corporate anticipates exiting the yr with three.0 (1.2 net) Beaverhill Lake horizontal oil wells standing awaiting completion.

With continued success on its Beaverhill Lake horizontal mild oil drilling program in Judy Creek the corporate’s corporate production is estimated to have increased to roughly three,000 boe/d (80% oil and natural gasoline liquids) in mid-December with its Beaverhill Lake manufacturing exceeding 2,000 boe/d (ninety% gentle oil). Relying on the timing and success of its remaining frac and testing operations in 2011, the company estimates that its fourth quarter corporate manufacturing rates will average between 2,a hundred and fifty and a pair of,300 boe/d (80% oil and pure gasoline liquids).

Exiting 2011 the company has gained appreciable momentum in its Judy Creek Beaverhill Lake mild oil drilling program. In 2012, Second Wave anticipates working three to 4 Beaverhill Lake drilling rigs in Judy Creek and is effectively positioned to satisfy its beforehand disclosed 2012 average and exiting production steerage of 3,850 boe/d (80% oil and natural gasoline liquids) and 5,000 boe/d (eighty% oil and pure fuel liquids), respectively. The company will look to supply an extra replace on its drilling program in the first quarter of 2012.

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