PLAN FOR 2020
NE British Columbia:
- Drill 6-9 horizontal wells (5.0-8.0 net) and complete 8 horizontal wells (7.5 net), with 7 (7.0 net) starting production in 2020;
- Estimated capital investment (excluding acquisitions & dispositions) is $52-$60 million;
- Forecast 4th quarter production 25,000 to 28,000 Boe/d;
- Forecast average annual production 22,500 to 24,000 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.