Canada-based oil and gas company PetroBakken has reported average production of 49,078 barrels of oil equivalent in the first quarter of 2013, a 4% rise compared to fourth quarter of 2012.
PetroBakken said the rise in production is from its Bakken business unit, Cardium business unit, Saskatchewan Conventional business unit and AB/BC business unit.
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The company has drilled 53 wells and brought 41 wells into production in the first quarter, while it had drilled 79 wells and brought 99 wells into production in the fourth quarter of 2012.
PetroBakken had drilled 47 wells and brought 36 wells into production in the first quarter of 2012, while 30 wells are waiting to be completed or brought into production as of the 31 March 2013.
The Bakken business unit has recorded average production of 19,029 in the first quarter, while a maturing production profile combined with drilling and well optimisation activity has kept production within 4% to 19,741 barrels of oil equivalent in the fourth quarter.
The company’s activity has allowed it to replace about half of the production it sold in its non-core disposition by the end of the first quarter of 2012, when production averaged 20,735 barrels of oil equivalent.
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By GlobalDataThe Cardium business unit has recorded average production of 20,614 barrels of oil equivalent in the first quarter, representing an 8% increase over the fourth quarter of 2012 and a 24% increase over the first quarter of 2012.
The company has spent half of the remaining capital programme in the Cardium, while most of the activity has been carried out in the West Pembina area of the business unit.
The Alberta/BC business unit has averaged the production of 3,362 barrels of oil equivalent in the quarter, while the company drilled five wells and brought two wells on production in the new Swan Hills resource play.
The Saskatchewan Conventional business unit has recorded average production of 6,073 barrels of oil equivalent from the seven wells in the first quarter.
Image: PetroBakken reported average production of 49,078 boepd in the first quarter of 2013. Photo: Courtesy of Alan Murray-Rust.
