Pump It Up: Petromin Increases Production at Redwater

Petromin Resources reported that its recently completed well on lands held in the Redwater Area of central Alberta has been placed on production. Initial production has been averaging 48 barrels of oil per day (BOPD) with a low water cut of 2%. This production has been obtained without requiring a FRAC.

Petromin retains a 25% working interest, and a gross overriding royalty interest on an additional 25%, convertible to a 12.5% working interest after payout in the well (Netting Petromin a total of 37.5% working interest after payout). This is the 7th successful well drilled on the lands to date. Additional drilling sites are being evaluated at this time.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Expertise: Fracturing|Stimulation
Location: Shreveport, 
Frac Equipment Operator - Shreveport, LA
Expertise: Fracturing
Location: Shreveport, 
Technical Services Manager - Production Chemicals
Expertise: Chemist|Production Engineering|Stimulation
Location: Midland, TX
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours