Fairborne Flies High with Record Quarterly Production
Fairborne Energy Ltd. Second quarter production averaged 13,143 BOE per day, a 21% increase over the second quarter of 2007, consisting of 59.5 MMcf per day of natural gas, 3,116 bbls per day of oil and natural gas liquids and 106 BOE per day of sulphur. Production volumes were negatively impacted by outages associated with two weeks of planned turnaround activity at the Nevis gas plant and a further three weeks of unplanned outages at Nevis required by the plant operator to restart the facility. Additional production from the Grand Banks' properties will not be fully reflected until the third quarter as the acquisition closed late in the second quarter 2008.
Based on the Company's expanded capital program and eight rigs currently drilling, the Company expects to deliver significant production growth through the balance of the drilling season. Drilling activities for the remainder of 2008 are expected to focus mainly in the core areas of Sinclair, Manitoba as well as Harlech and Marlboro in the Alberta Deep Basin.
- Fairborne Provides Operational Update, Tags Capital Budget (Jan 26)
- Fairborne Flies High with Record Quarterly Production (Aug 08)
- Fairborne Hits Record, Doubles Operational Cash Flow (Aug 08)