Strategy 2018-05-16T13:36:55+00:00

STRATEGY

PLAN FOR 2018

Umbach – NE British Columbia:

  • Drill 3 – 6 horizontal wells (3.0 net – 6.0 net) and complete 8 – 11 horizontal wells (8.0 net – 11.0 net), with 10 (10.0 net) connected in 2018;
  • Estimated operations capital (excluding acquisitions & dispositions) is $55 – $65 million;
  • Forecast 4th quarter production 20,000 to 21,000 Boe/d;
  • Forecast average annual production 20,000 to 21,000 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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