Calima Energy Ltd (ASX:CE1) has finished drilling the second well (Pisces #2) of its two-well horizontal Glauconitic (GLCC) drilling campaign at the core Brooks area in Alberta, Canada.
Pisces #2 was drilled to 3,953 meters measured depth (mMD), and about 2,720 metres of the well was horizontal in the Glauconitic Formation with well logs indicating reservoir quality as expected and oil and gas shows as prognosed.
Following the drilling, a frac liner consisting of 58 frac ports was installed in the horizontal section.
In early January, the two wells will undergo multi-stage frac stimulation and then be tied-in to existing infrastructure and facilities.
Calima is expecting to commence production in mid-February 2022.
“Significant additional producers”
Calima CEO and president Jordan Kevol said: “The drilling of both Pisces wells has finished, and both went very well.
“The wells were drilled under budgeted time and costs.
“Oil and gas shows and reservoir analysis indicate that the wells should be significant additional producers to add to the company’s existing production.
“The wells will be fractured in January, and we expect them to contribute to our production base for the 1st quarter 2022.”
About Calima Energy
Calima’s core asset lies within a liquids-rich sweet spot of the Monetary Formation in northeast British Columbia where it has been able to covert around 60% of its total 63,000 acres holding to 10-year lease through a successful exploratory drilling program.
The company also recently merged with Blackspur Oil Corp, a privately held Canadian company producing oil and natural gas assets in two core areas within Alberta - at Brooks and Thorsby.