
Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Announcing Development Update
- Prospera energy recently announced that its sixth horizontal well has commenced drilling The well forms part of the company's phase 2 initiatives, which will see it drill a total of ten horizontal and 8 vertical wells across its Cuthbert and Heart Hill properties Recent successes within the program – has seen drilling work and production profiles come in well ahead of expectations – this has prompted Prospera to extend its second phase beyond the initially planned ten horizontal wells The company separately revealed that it has reached a production of 1,100 boe/d from its five initial wells as of end October, not including a further 700 boe/d of production currently shut-in to facilitate ongoing developmental work
Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) , a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada, provided investors and stakeholders with some positive news in recent days ( ). The company announced that its sixth horizontal well had successfully commenced production as of early November, only weeks after announcing the resumption of its horizontal infill drilling program. Prospera have recently launched the second phase of its drilling program, centered around drilling 10 horizontal well locations across its Cuthbert and Hearty Hill properties, with the eventual goal of tripling the company's daily crude output in 2023.
The company revealed that the initial batch of 5 horizontal wells it had drilled had outperformed its estimated production curve, with the wells' IP60 (i.e., average daily rate of production after a cumulative 60 days of production) outperforming Prospera Energy's initial forecasts. With five horizontal wells...
Read More>>
NOTE TO INVESTORS:
The latest news and updates relating to GXRFF are available in the company's newsroom at
About MiningNewsWire
MiningNewsWire
(“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 60+ brands within
the
Dynamic Brand Portfolio
@
IBN
that delivers :
(1) access to a vast network of wire solutions via
InvestorWire
to efficiently and effectively reach a myriad of target markets, demographics and diverse industries ;
(2) article and
editorial syndication to 5,000+ outlets ;
(3) enhanced
press release enhancement
to ensure maximum impact ;
(4)
social media distribution
via IBN to millions of social media followers ;
and (5) a full array of tailored
corporate communications solutions . With broad reach and a seasoned team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today's market, MNW brings its clients unparalleled recognition and brand awareness.
MNW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from MiningNewsWire, text“BigHole” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit
Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published:
/Disclaimer
MiningNewsWire
Los Angeles, CA
310.299.1717 Office
...
MiningNewsWire is powered by
IBN
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Manuka Honey Market Report 2024, Industry Growth, Size, Share, Top Compan...
- Modular Kitchen Market 2024, Industry Growth, Share, Size, Key Players An...
- Acrylamide Production Cost Analysis Report: A Comprehensive Assessment Of...
- Fish Sauce Market 2024, Industry Trends, Growth, Demand And Analysis Repo...
- Australia Foreign Exchange Market Size, Growth, Industry Demand And Forec...
- Cold Pressed Oil Market Trends 2024, Leading Companies Share, Size And Fo...
- Pasta Sauce Market 2024, Industry Growth, Share, Size, Key Players Analys...
Comments
No comment