PLAN FOR 2021
NE British Columbia:
- Drill 11 horizontal wells (9.0 net) and complete 11 horizontal wells (10 net), with 13 (11.0 net) starting production in 2021;
- Estimated capital investment (excluding acquisitions & dispositions) is $85-$90 million;
- Forecast 4th quarter production 30,000 to 32,000 Boe/d;
- Forecast average annual production 26,000 to 28,000 Boe/d.
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.