Business
BNK Petroleum Inc. October 2008 production update
CALGARY, Oct. 3 /CNW/ - BNK Petroleum Inc. (TSX: BKX) Wolf Regener, President and CEO is pleased ...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\nCALGARY, Oct. 3 /CNW/ - BNK Petroleum Inc. (TSX: BKX) Wolf Regener,\nPresident and CEO is pleased to report that BNK Petroleum Inc. ("BNK")\ncurrently has interests in wells producing about 500 barrels of oil\nequivalents ("BOEs") net to BNK, from the Woodford shale in its Tishomingo\nField in Oklahoma.\n\n\nBNK has 5 wells producing approximately 300 BOEs a day, net to BNK, of\nthe approximately 1,500 gross BOEs a day. BNK also has 3 wells shut-in which\nhave been producing about 200 BOEs a day, net to BNK, while NGPL upgrades the\nmeter restriction.\n\n\nBNK also has interests in 3 wells that are still flowing back fracture\nstimulation fluids that do not yet have production rates. In the Tishomingo\nfield, BNK has participated in 32 wells that have been drilled and cased, with\none additional well that is still drilling. Of these 33 wells, 6 are vertical\nand 27 are horizontal and BNK operates 24 of them.\n\n\nThere are approximately 104 net stages of treatable Woodford shale behind\npipe in which BNK owns an interest. A net stage of treatable Woodford shale\nrepresents the average treated interval length multiplied by BNK's working\ninterest in each well. The current rate of 500 BOEs a day, net to BNK's\ninterest, is being produced by approximately 18 percent of the currently\navailable net stages.\n\n\nAll the wells in the Tishomingo Field have been drilled on a one well per\nsection basis, which is 640 acres. BNK anticipates applying for a downspacing\nof 4 wells per section. BNK is projecting that its BOE mix, based on the\nrecent well completions, will be approximately 50% from oil and Natural Gas\nLiquids and 50% from natural gas.\n\n\nBNK and partners continue to install gathering lines and monitor the\nfracture stimulation results on their wells to further improve the completion\ntechniques. The goal is to continuously improve the initial production rates\nas well as ultimate recoveries from these wells. BNK is currently planning to\nbegin drilling its next well in the middle of October on the acreage it\nrecently acquired, which is adjacent to its original acreage block.\n\n\nAbout BNK Petroleum Inc.\n\n\nBNK Petroleum Inc. is a California based oil and gas exploration and\nproduction company focused on finding and exploiting large oil and gas\nresource plays. The Company holds an average ...