Business
BNK Petroleum Inc. 2008 operational update
BNK Petroleum Inc. (TSX: BKX) CALGARY, Sept. 18 /CNW/ - BNK Petroleum Inc. (BNK) is pleased to an...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\nBNK Petroleum Inc. (TSX: BKX)\n\n\nCALGARY, Sept. 18 /CNW/ - BNK Petroleum Inc. (BNK) is pleased to announce\nits progress in the Tishomingo field drilling program.\n\n\n- Drilled and set casing on 24 wells and has 4 wells still drilling. Of\n these wells, 24 are horizontal, 4 are vertical and BNK is operator of\n 19 of them.\n- Executed a letter of intent with Atlas Pipeline Mid-Continent, LLC\n (Atlas) for the purchase and processing of BNK's gas.\n- Atlas installed a processing plant with a capacity of 15 million\n cubic feet a day (mmcf/d) currently constrained to 4 mmcf/d, by NGPL\n meter restriction.\n- BNK to tie in the Tishomingo Field gathering system to Atlas' Velma\n to Madill wet gas gathering line. BNK intending on sending gas to\n Atlas' Velma Cryogenic processing plant in 1st quarter of 2009.\n- Signed gas sales contract with Chesapeake Energy Marketing, Inc.\n (Chesapeake).\n- 1st gas scheduled to be delivered to Chesapeake by Sept 22nd 2008.\n- NGPL meter restriction expected to be removed by October 1st 2008.\n\n\nIn summary there is currently about 29 mmcf/d of processing capacity for\nthe Tishomingo Field available by next week with another 17 mmcf/d available\nonce the NGPL meter upgrade is complete. With this processing capacity in\nplace BNK can proceed to complete its wells and process the gas produced as\nthe rest of the gathering system is installed to connect to all the wells in\nthe field.\n\n\n- Only six of the wells in the 2008 drilling program have been fracture\n stimulated.\n- All wells to date have been facility constrained.\n- The Dunn 2-1H, has produced over 155 (mmcf) of gas, 13,000 barrels of\n oil and approximately 7,700 barrels of Natural Gas Liquids (NGLS) to\n date.\n- The Barnes 6-1H well has recovered about 33% of its fracture\n stimulation fluids, is producing about 60 barrels of oil per day\n (BOPD) and an unknown amount of gas.\n- The Sapp 11-1H well is still recovering fracture stimulation fluids\n and does not have a production rate yet.\n- The Barnes 7-1H well was tested with a modified fracture stimulation\n technique and tested only about one-third of the total horizontal\n wellbore. The well is currently producing about 95 bopd, 650 mcf/day\n of gas and 32 bpd of NGLS.\n- The Sapp 3-1H is scheduled to be fracture stimulated within the next\n 10 days utilizing the modif...