STRATEGY
PLAN FOR 2020
NE British Columbia:
- Drill 6-10 horizontal wells (4.0-8.5 net) and complete 8-10 horizontal wells (6.5-8.5 net), with 5-10 (5.0-8.5 net) starting production in 2020;
- Estimated capital investment (excluding acquisitions & dispositions) is $75-$85 million;
- Forecast 4th quarter production 25,000 to 30,000 Boe/d;
- Forecast average annual production 23,500 to 26,000 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.