Strategy 2018-11-15T12:45:53+00:00

STRATEGY

PLAN FOR 2018

NE British Columbia:

  • Drill 5 horizontal wells (5.0 net) and complete 11 horizontal wells (10.5 net), with 7 (7.0 net) connected in 2018;
  • Estimated operations capital (excluding acquisitions & dispositions) is $85 million;
  • Forecast 4th quarter production 19,000 to 21,000 Boe/d;
  • Forecast average annual production 19,500 to 20,500 Boe/d.

PLAN FOR 2019

NE British Columbia:

  • Drill 8 horizontal wells (6.5 net) and complete 11 horizontal wells (9.5 net), with 11 (11.0 net) connected in 2019;
  • Estimated operations capital (excluding acquisitions & dispositions) is $128 million;
  • Forecast 4th quarter production 23,000 to 25,000 Boe/d;
  • Forecast average annual production 21,000 to 24,000 Boe/d.

LONG TERM

Horn River Basin, NE British Columbia:

  • Storm’s land position in the Horn River Basin (shale gas) continues to be a long-term asset which provides significant leverage to increased natural gas prices. Commerciality is proven with 1 producing horizontal well, and 2 vertical wells completed and tested. Storm has no plans for additional activity in this area until there is evidence of a substantial and sustainable increase in natural gas prices.

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