NAL Oil & Gas Trust (TSE:NAE.UN) provided an operations update on its Cardium and Mississippian light oil projects in central Alberta and southeast Saskatchewan.
NAL Oil & Gas Trust (TSX:NAE.UN) provided an operations update on its Cardium and Mississippian light oil projects in central Alberta and southeast Saskatchewan.
The press release is quoted as saying:
Garrington Cardium drilling provides proven repeatability with 31 wells drilled to date, supporting significant future drilling and reserve bookings, the 3-17-27-3W5M well at Cochrane, which is one of NAL’s strongest Cardium producers to date, flowed at approximately 2,300 boe per day post-load-fluid recovery and produced on test for five days prior to being shut-in for equipping at an average rate of 1,300 boe per day. NAL operates this area and has a 65% working interest, Production in the Hoffer area of southeast Saskatchewan is expected to grow from approximately 200 bbls per day at the beginning of the year to approximately 1,500 bbls per day at year end. NAL operates this area and has a 50% working interest, and NAL’s 2010 exit production rate is expected to be above 31,000 boe per day and full year average volumes are expected to be in the mid-range of guidance of 29,500 – 30,500 boe per day.