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Glacier Upper Montney Well Tested at Record 21 Mmcf/d, Lower Montney Wells Continue to Outperform, Strategic Alternatives Update
(TSX: AAV) (NYSE: AAV) CALGARY , Dec. 4, 2013 /CNW/ - Advantage Oil & Gas Ltd....
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n\n\n(TSX: AAV) (NYSE: AAV)\n\n\nCALGARY, Dec. 4, 2013 /CNW/ - Advantage Oil & Gas Ltd. (\"Advantage\" or\n the \"Corporation\") is pleased to provide the following operational\n update related to our current Phase VI Glacier Development program and\n an update on our strategic alternatives process. Our Phase VI drilling\n program commenced in August 2013 and is designed to increase Glacier\n production to 135 mmcfe/d in April 2014 which represents a production\n growth of 25% compared to April 2013.\n\n\nNew Glacier Upper Montney Well Tested at a Record 21 Mmcf/d\n\n\n\nA new Upper Montney well located at 100/5-20-76-12w6 was recently\n completed with a 14 stage high rate slick water frac utilizing an open\n hole packer system. This well is located in the eastern portion of our\n Glacier land block north of our Glacier gas plant.\n\n\nThe new 100/5-20-76-12w6 Upper Montney well was production tested for 71\n hours and demonstrated a final gas flow rate at the end of the test\n period of 18.4 mmcf/d at a final flowing pressure of 8,633 kpa. The\n final gas flow rate normalized to our gas gathering system average\n pressure of 3,000 kpa is 21.2 mmcf/d.\n\n\nThe 100/5-20-76-12w6 well demonstrated a final gas flow rate that is two\n to three times better than directly offsetting older Upper Montney\n wells completed with our previous frac technique.  This new Upper\n Montney well also represents the best well we have drilled at Glacier\n on a total rate and rate per frac basis as compared to our 80 Glacier\n Upper Montney wells and the 105 total Glacier Montney wells drilled and\n completed to date.\n\n\nWe believe that continued refinement of completion techniques and the\n development of new technology combined with our significant experience\n at Glacier will improve well performance in all layers of our Montney\n \"Pentastack\".\n\n\n\nLower Montney Wells Continue to Outperform \n\n\n\nIn order to prove up reserves in the eastern half of our Glacier land\n block where no Lower Montney reserves have been booked by our third\n party independent engineering firm, Sproule & Associates Limited\n (\"Sproule\"), several Lower Montney wells are included in our current\n Phase VI drilling program.  One of these wells is located at\n 100/1-16-76-12w6 which has recently been drilled and completed with a\n 14 stage high ...