Business
Tourmaline Announces Three New Extensive Liquid-rich EP Opportunities
Tourmaline Announces Three New Extensive Liquid-rich EP Opportunities Canada NewsW...
About this update from Tourmaline Oil Corp.
[{"type":"text","content":"\n\n\n\nTourmaline Announces Three New Extensive Liquid-rich EP Opportunities\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.prngen2{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 29, 2017\n\n\n\nCALGARY, May 29, 2017 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) (\"Tourmaline\" or the \"Company\") is pleased to announce three new extensive exploration and production (\"EP\") opportunities within its existing core complexes and provide an update on its EP activities.\n\nNEW LIQUID-RICH OPPORTUNITIES\n\nLiquid-rich Viking at Brazeau River\n\nTourmaline has been delineating a new extensive liquid-rich opportunity in the Brazeau River area at the south end of the Company's Deep Basin complex.  The Company has brought on production eight liquid-rich Viking horizontals over the past two years.  The average initial production (\"IP\") 30-day rate of these wells is 11.7 mmcfpd of natural gas, the average IP 365 day rate is 4.8 mmcfpd of natural gas, with average liquids production of 27.5 bbls/mmcf and drill and complete costs averaging $4.3 million.  The type curve based on these eight producing wells indicates an internally estimated ultimate recovery (\"EUR\") of 5.1 bcf of sales gas and 146.5 mboe of condensate and NGL yielding an implied value of $10.5 million per well (net present value, discounted at 10%, before tax).  The Company has a defined future inventory of approximately 60 additional horizontals, all of which can access Company operated infrastructure.\n\nLiquid-rich Cardium at Hinton-Anderson-Lambert\n\nTourmaline's initial horizontal well into an extensive, liquid-rich, Cardium complex at Hinton-Anderson-Lambert has produced 1.6 bcf and 48,000 bbls of liquid (95% C5+) over the first 100 days of production, with the well being prod...