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Advantage Announces 12 MMCFD Montney Horizontal Well On-Production, Well Tests Exceeding Expectations across the Glacier Land Block and Plans to Drill a Nikanassin Horizontal Well
Advantage Announces 12 MMCFD Montney Horizontal Well On-Production, Well Tests Exceeding Expectat...
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n\n\n\nDec. 7, 2009 (Canada NewsWire Group) -- CALGARY, Dec. 7 /CNW/ -- Advantage Oil & Gas Ltd. (\"Advantage\" or the \"Corporation\") is pleased to provide an operational update regarding its Montney horizontal well drilling at Glacier, Alberta and highlights of its proposed development program for the first quarter of 2010.Montney Horizontal Well On-Production at 12 MMCFD- A new Glacier Montney well was brought on-stream at a sustainedproduction rate of 12 mmcfd at a flowing pressure of 1,300 psig. Thewell (100% Advantage working interest) was drilled horizontally intothe Upper Montney zone and completed with 12 fracs along thehorizontal section.- This horizontal well was recently production tested at over 8.9 mmcfdand the actual production rate has exceeded expectations as the wellcleaned-up upon initial production.- Existing facilities and gathering systems at Glacier are currently atcapacity. Facilities and gathering system expansions which include anew 50 mmcfd gas plant (Advantage 100% working interest) are underconstruction and targeted for completion during the second quarter of2010.Montney Well Tests Exceeding Expectations across our Glacier Land Block- The last six horizontal wells drilled at Glacier were productiontested at an average rate of over 6.5 mmcfd per well at an averageflowing pressure of 900 psi. This represents a 63% improvement on theaverage test rates observed in our initial 8 Upper Montney wells andranks within the top quartile of well test results within the Montneytrend. This improvement is attributed to i) improved geologicalunderstanding of the Montney as we delineate our land block andii) enhanced completion techniques. Cost efficiencies have greatlyincreased with an average reduction of 43% in drilling costs permeter and a 57% reduction in completion costs per frac.- Two of our last six Upper Montney horizontal wells (100% Advantageworking interest) were drilled on the eastern portion of our landblock and flowed at an average rate of 8.1 mmcfd at an averageflowing pressure of 812 psi. These wells prove up a significant areaof un-drilled acreage within our Glacier property and are locatedapproximately eight miles from some of our recently tested wells.- Four horizontal wells have been drilled targeting the Lower Montneyzone since July 2009. One of these wells (Advantage 100% workinginterest) is ...