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BNK Petroleum Inc. Achieves its Best 30 Day Initial Oil Production Rate Of 540 BOPD (630 BOEPD) from the Glenn 16-2H Well
BNK Petroleum Inc. Achieves its Best 30 Day Initial Oil Production Rate Of 540 BOPD (630 B...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\nBNK Petroleum Inc. Achieves its Best 30 Day Initial Oil Production Rate Of 540 BOPD (630 BOEPD) from the Glenn 16-2H Well\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCAMARILLO, CA, April 23, 2018\n\n\n\nTSX ticker symbol; BKXOTCQX ticker symbol; BNKPF\n\n\n\nCAMARILLO, CA, April 23, 2018 /CNW/ - BNK Petroleum Inc. (the \"Company\") (TSX: BKX) is pleased to announce that the Glenn 16-2H well (100% working interest) averaged over 630 Barrels of oil equivalent per day (BOEPD), of which 540 barrels are oil, for the last 30 days. The production from the well, which is located in BNK's Tishomingo field, in the SCOOP region of Oklahoma, is currently producing over 620 BOEPD, of which 515 barrels are oil (85%).\n\n\n\nCommenting on the announcement, Wolf Regener, President and CEO, said:\n\n\"The Glenn 16-2H well has the highest 30 day oil IP of any well that we have drilled and it is outperforming our possible type curve. The well is producing at an oil rate which is about 45% higher than our next highest well's production at the 30 day mark. Our technical team believes this exceptional performance is mainly due to our latest generation frack design, as the geological data gathered while drilling this lateral looks comparable to many of our other wells.\n\n\"At the current price of oil at over $68 a barrel, our incremental netbacks for this well are estimated to be approximately $37 a barrel which represents a substantial contribution to our cash flow.\"\n\nOperations Update\n\nThe fracture stimulation of the previously drilled WLC 14-2H well is being scheduled and is expected to begin in mid-May. We plan to utilize a similar frack design to the Glenn 16-2H well stimulation which includes the use of cutting edge friction reducers.  \n\nWolf Regener commented: \"The hydrocarbon shows recorded while drilling the WLC 14-2H well lateral look comparable to our best wells and we look forward to again using our latest generation frack design, as with the Glenn 16-2H well stimulation, to attempt to maximize production from th...