How promising should this news be to me? Here is a map link. We are township 10 range 33 Southeast Saskatchewan fairfield sun times
During the fourth quarter of 2012, Renegade drilled a successful well in the Crystal Hills area targeting the Souris Valley, which continues to outperform with 90-day average IP rates of 240 bbl/d. Additionally in the Wordsworth area a well was drilled targeting the Frobisher formation and had a 60-day average IP rate of 140 bbl/d.
During the first quarter, Renegade drilled and completed 2 operated gross wells (1.0 net well) in southeast Saskatchewan. The Company drilled 1 gross (0.5 net) well in Crystal Hills targeting the Souris Valley that produced at a 30-day average IP rate in excess of 125 bbl/d which continues. Http://www.legacyoilandgas.com/operations/sask_crystalhills-parkman.html
In that context, yes 32k barrels. Doesn't sound like alot but these are not 2 mile deep Bakken wells that cost 10 million dollars. Shallower depth, probably short lateral to greatly expose more wellbore than just a verticle well, alot less cost in frack stages, ordinary "cheap" silica sand can be used instead of expensive ceramic propant. I believe that these wells can recover cost in less than a year if they can keep costs down and that would be pleasing to many operators. Multiple formations are encountered, when the deepest formation is depleted another formation higher up can be produced, by drilling a new lateral in that formation or the well becoming a verticle well, whatever is cost effective because you are already there.
Thank you RW for your attentive ness. Im learning about all the traps and how oil migated here now. We could maybe be on top of something. Ill get excited when they encroachon our "9 spot ". all sections touching ours.