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Hyperion Exploration Corp. (TSXV:HYX) announced its financial and operating results for the three and nine months ended September 30, 2011. As quoted in the press release: Hyperion remains focussed on per share growth through the execution of the 2011 capital budget. Increased average quarterly production to 1,050 boe/day from 943 boe/day in Q2 representing an …
As quoted in the press release:
Hyperion remains focussed on per share growth through the execution of the 2011 capital budget.
Increased average quarterly production to 1,050 boe/day from 943 boe/day in Q2 representing an increase of 107 boe/day or 11%. The improved production was due to production optimization and additional light oil volumes from new wells placed on production in late September.
Hyperion drilled 3 gross (2.6 net) Cardium horizontal light oil wells in the third quarter for a year to date total of 5 gross (3.4 net) wells with a 100% success rate. Of the wells drilled during the third quarter, 2 gross (2.0 net) wells in the Garrington area commenced production in September with one gross (0.6 net) well in the Buck Lake area starting production during October.
Initial results have exceeded the Company’s original estimates for Cardium horizontal wells completed with multi- stage fracture stimulations and on production. At Garrington two gross (2 net) wells are now on production and at Buck Lake one gross (0.6 net) well is currently on production. In addition, Hyperion has drilled two gross (2 net) wells in the fourth quarter and is currently conducting completion and equipping operations with production start- up forecast for mid-December. Also, Hyperion plans to spud the second Buck Lake well (0.6 net) in late December, 2011 or early January, 2012 and anticipates commencement of production in the first quarter of 2012.
Click here to read the Hyperion Exploration Corp. (TSXV:HYX) press release
