Enterra Accelerates Clair Drilling Program
Enterra Energy Corp. will be accelerating its drilling program in the Clair area by adding a third drilling rig and has completed the first phase of its drilling program in the Bindloss area.
Enterra is focusing all its drilling activities in the Bindloss and Clair areas, said Reg Greenslade, President and CEO of Enterra. "Since September 30th we have drilled 22 wells at Bindloss with a 100% success rate. In addition we performed 10 successful recompletions and 10 re-entries, 8 of which were successful."
Mr. Greenslade added, "The Clair area will be our focus between now and year-end. We currently have 6 wells producing in the Clair area at a rate of approximately 650 bbls of oil per day. We have an additional 6 wells that have been drilled and will be completed and put on production next week. One well was dry to date in this program. In order to accelerate our pace at Clair, we are moving a third rig in tomorrow and hope to drill and complete 13 additional wells by the end of the year with further drilling scheduled in the first quarter of 2003."
The Company is on track to accomplish its goal of exiting 2002 at or about 5,000 boe/day. A news release with respect to the Company's actual production rate at the end of 2002 will be issued in mid-January, 2003.