Calima Energy closes out first month of the year producing 4,300 boe/d
Last updated: 21:07 01 Feb 2022 EST, First published: 19:45 01 Feb 2022 EST
Calima Energy Ltd (ASX:CE1) has ended the first month of the year producing 4,300 barrels of oil equivalent per day (boe/d) from its oil and gas properties in Alberta, Canada.
The energy stock is bringing wells online across its Brooks and Thorsby properties in Canada, where it hopes to grow production to 5,500 boe/d by the end of 2022.
January's production metric comes as the company’s three Leo wells commenced frac fluid flowback mid-November, while the two Pisces wells were completed and tied in late January 2021.
Calima has four wells behind pipe waiting to be tied before the end of the first quarter.
2022 “off with a bang”
Calima CEO and president Jordan Kevol said: “2022 has started with a bang, with seven wells drilled and two already adding to our production base, one of which is currently exceeding 500 boe/d (80% oil) …
“Our third-generation Sparky wells are continuing to improve and are on their way to reaching peak oil and gas rates.
“With WTI price at US$88 per barrel of oil (bbl) and WCS at C$95/bbl, 2022 is shaping up to be a significant year for the company and shareholders.”
Production schedule
2021 represented a major drilling period for the Calima team, and 2022 is shaping up in a similar fashion.
The table below maps the wells drilled last year — all of which are currently in production — and the status of Calima’s drill targets in 2022.
