Ember Resources Enjoys 37% Production Increase in Q4
Ember Resources estimates that production for fourth quarter 2007 will average 7.1 mmcf/d, a 37% increase over third quarter 2007. Current production from field data is estimated at 8.2 mmcf/d with weather-related downtime reducing production by 200-300 mcf/d. Almost all of Ember's production is coalbed methane (CBM).
Production from Ember's newly commissioned Acme CBM property has stabilized at 2.8 mmcf/d from 31 producing wells. Productivity from the Horseshoe Canyon coals is in line with expectations however flush production from co-mingled conventional sands is lower than initial test rates indicated. The Company is conducting testing and evaluation work on the existing producing wells to optimize completion operations for the next round of drilling at Acme.
To date, Ember has drilled four wells at Acme in its first quarter drilling program. A total of 14 wells (7.5 net) are planned for the quarter, all at Acme. Production additions from this program and are forecasted to be on-stream prior to the end of the quarter.