Stealth Ventures Grows Shale Gas Production

Stealth Ventures Ltd.'s production is rapidly growing beyond its second quarter average of 236 BOE/D, primarily due to tie-in operations on its current 70 well program at Wildmere, Alberta.

Since the inception of the play in early 2006 Stealth has progressed from a conceptual technology play to a commercial producing asset, and production growth is now the focus of the Company.

The current summer drilling program kicked-off on July 3rd, 2008 and is currently under the budgeted $350,000 tied-in cost per well, with 42 wells drilled, 25 completed, and 10 tied-in and producing to date. The Company's production is today increasing past 2.5MMcf/d (raw) from the field with an estimated corporate production of 350 (net) BOE/D as of the day of this release. The Company expects to see strong production growth in the third and fourth quarters of this year, with the majority of wells tied-in during the fourth quarter.

 

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
United States El Reno: Perforating Specialist, Assoc
Expertise: Perforation|Petroleum Engineering
Location: El Reno, OK
 
United States El Reno: General Field Engineer - Cased Hole
Expertise: Petroleum Engineering
Location: El Reno, OK
 
United States Kilgore: Perforating Specialist, Assoc
Expertise: Perforation|Petroleum Engineering
Location: Kilgore, TX
 
search for more jobs

Brent Crude Oil : $56.43/BBL 0.40%
Light Crude Oil : $50.55/BBL 0.27%
Natural Gas : $2.95/MMBtu 5.44%
Updated in last 24 hours