Calima Energy and CEO Jordan Kevol Reveal Crucial Updates Regarding Q4 Drilling Operation
Calima Energy is a growth-oriented Australian oil and gas producer and explorer. In 2021, the ENERGY COMPANY underwent a ground-breaking merger with Blackspur Oil and transformed into a high-margin oil and gas producer. The Company runs three primary drilling operations: Brooks, Thorsby, and Montney. Calima Energy and CEO Jordan Kevol have recently announced the completion of drilling of four out of its five wells in the Q4 drilling program. The latest Calima Energy share price is AUD 0.13.
CALIMA ENERGY LIMITED (ASX: CE1) has recently announced the completion of four of its five wells in the Q4 drilling program of Brooks. These comprise the three Sunburst wells, namely Gemini #10, #11, and #12, and the two Glauconitic Formation horizontal wells, namely Pisces #6 and #7. Out of the five wells, the three Sunburst wells and one Glauconitic well (Pisces #6) have already been drilled, while the drilling work for one Glauconitic (Pisces #7) is in progress, expected to finish by the end of November.
While the status of Gemini #10 and Gemini #11 is “on production”, Gemini 12 has been drilled and will soon begin production. Also, the IP30 production for these wells is modelled at 120 BOE/D. Besides, fracture stimulation for Pisces #6 and #7 is expected to begin in the second week of December. Initial flow back and testing are expected to occur in the latter half of December, and their IP30 production is modelled at 230 BOE/D. The COMPANY will continue to evaluate and explore more commodity contracts for its portfolio hedge for 2023.
Developments In Leo #4
Drilled in January 2022 and fracture stimulated in June 2022, the Leo #4 (50% WI) is yielding positive operating revenue and will include new reserves while treating the fluids at Thorsby 16–5 BATTERY Calima wholly owns. The well is 4,088 METERS deep and is outfitted with a 52-STAGE liner. During the testing period of four months, the well produced 13,150 BOE till October. CALIMA also examines a follow-up location off the same pad as Leo #4. It would target the Sparky “C” sand, representing a different reservoir within the Sparky age rock.
