RMP Energy provides Ante Creek drilling results
Thursday, Nov 08, 2012
RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to provide completion test results highlighting follow-up light oil Montney drilling success at Ante Creek in West Central Alberta.
At Ante Creek, RMP successfully drilled and completed its second Montney formation horizontal oil well located at 13-26-66-24W5 (100% working interest), which offset the Company's original oil discovery well (4-35-66-24W5). Over the first 59 hour flow back, the 13-26 well recovered all of its frac fluid. During the final 24 hours of a 96 hour new oil production flow test, it produced approximately 2,800 bbls of 36 degree API crude oil and 1.66 mmcf of associated solution gas for a total of approximately 3,090 boe at a flowing tubing wellhead pressure of 400 psi. Please refer to important Reader Advisories at the end of this news release.
RMP anticipates the 13-26 well to be tied-in and brought on-stream at a restricted rate by the end of November 2012. The Company is currently facility limited with associated solution gas processing. Oil production from RMP's Ante Creek area is presently being trucked into the Company's Waskahigan oil battery with the associated solution gas conserved and processed at an area operator's gas plant, which currently has allocated approximately 1.5 mmcf/d of capacity to RMP. The Company is presently evaluating numerous gas take-away alternatives in order to alleviate these capacity limitations for 2013.
In addition to the 13-26 well, RMP recently drilled its third Montney horizontal oil well located at 1-36-66-24W5 (100% working interest). The 1-36 well is expected to undergo fracture stimulation by the end of this week. The 1-36 well, pending completion success, may remain shut-in in the interim as a result of the aforementioned solution gas processing limitations.
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