logo-loader
viewWhitebark Energy Ltd

Whitebark Energy eyes next two wells at Wizard Lake

Planning has commenced for the next wells with the well licenses for Rex 4 and 5 being received.

Whitebark Energy Ltd - Whitebark Energy eyes next wells at Wizard Lake
The Wizard Lake Oilfield has the potential to contain 24+ wells targeting 11 million boe

Whitebark Energy Ltd (ASX:WBE) is producing at a gross rate of 1,220 barrels of oil per day (bopd) and 3.5 million cubic feet of gas per day (mmcfd) at the Wizard Lake Oilfield in Canada.

Over the coming weeks work will continue to determine the most appropriate long term production rates from the three contributing wells – Rex-1, Rex-2, and Rex-3.

Whitebark expects well performance to continue to improve before plateauing given the early-stage of the well’s lives.

Planning for wells 4 and 5 underway

Whitebark’s managing director David Messina said: “After a short delay, it is very rewarding to have all the wells online and producing to our new facilities at solid rates.

“We are looking forward to the next few weeks as we continue to optimise the field and progress plans for the next well.”

The field facilities are presently handling 2,100 barrels of fluid per day (1,220 oil and 880 water) and over 3.5 mmcfd of gas.

Quick facts: Whitebark Energy Ltd

Price: 0.0035 AUD

ASX:WBE
Market: ASX
Market Cap: $10.59 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Whitebark Energy Ltd named herein, including the promotion by the Company of Whitebark Energy Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Whitebark Energy completes $3.8 million capital raising to...

Whitebark Energy Limited (ASX: WBE) managing director David Messina updates Proactive on the completion of a $3.8 million capital raising to fast-track the Wizard Lake project development in Canada. The new funds will mainly be used to accelerate the upgrade of infrastructure to handle the...

on 26/9/19

2 min read