PR Newswire
CAMARILLO, CA, March 23, 2017
CAMARILLO, CA, March 23, 2017 /PRNewswire/ - BNK Petroleum Inc. (the "Company" or "BNK") (TSX: BKX), is providing the results of its December 31, 2016 independent reserves evaluation.
The evaluation of the Company's reserves in the Caney formation of the Tishomingo Field in Oklahoma was conducted by Netherland, Sewell & Associates, Inc. ("NSAI") in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities.
2016 Gross Reserves Summary
Net Present Value of Reserves discounted at 10%
The above total Proved reserves are attributed to 11 of the Caney wells already drilled, four Woodford wells (4.9% working interest for the Company) and the drilling of 32.7 net additional wells over the next 5 years. The Probable reserves are attributed to the drilling of 40.99 net additional wells. The wells in this report are planned at 107 acre spacing (6 wells per section) on approximately 11,448 net acres. This is approximately 69 percent of the 16,650 net acres the Company has in this project. The other 31 percent of the acreage is on the easterly side of the Company's acreage and based on data from the Company's historical drilling of the deeper Woodford formation wells, correlated with a 3D seismic survey, the Company anticipates that future wells on its easterly acreage will demonstrate that the Caney is also productive over this easterly acreage.
Wolf Regener, President and CEO commented. "We are very pleased with the way our existing wells are performing. The estimated ultimate recovery from the existing wells increased by 1.2 million barrels of oil equivalent (BOE), as the existing producing wells once again exceeded the previous year forecast. Our Proved and Probable reserves increased this year as well. These increases do not incorporate any of the wells from our 2017 drilling program, which started in the 3rd week of December 2016. The Company expects these wells to further increase the Proved and Probable reserves, once the wells are brought online and a new reserve report is generated."
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| Summary of Oil & Gas Reserves | ||||||||
| Tight Oil | Shale Gas | Natural Gas Liquids | MBOE's | |||||
Reserve Category | BNK | Net | BNK | Net | BNK | Net | BNK | Net | |
Proved | | | | | | | | | |
| Developed Producing | 1,474.0 | 1,139.2 | 2,351.5 | 1,819.9 | 556.6 | 430.8 | 2,422.5 | 1,873.3 |
| Developed Non-Producing | 0.0 | 0.0 | 251.2 | 204.1 | 72.2 | 58.7 | 114.1 | 92.7 |
| Undeveloped | 10,686.1 | 8,373.0 | 11,777.5 | 9,180.1 | 2,787.9 | 2,173.1 | 15,436.9 | 12,076.1 |
Total Proved | 12,160.1 | 9,512.2 | 14,380.2 | 11,204.1 | 3,416.7 | 2,662.6 | 17,973.5 | 12,076.1 | |
Probable | 16,270.7 | 12,944.6 | 19,258.6 | 15,350.9 | 4,562.7 | 3,637.0 | 24,043.2 | 19,140.1 | |
Total Proved Plus Probable | 28,430.9 | 22,456.8 | 33,638.8 | 26,555.1 | 7,979.6 | 6,299.6 | 42,017.0 | 33,182.3 | |
Possible | 16,461.2 | 13,183.6 | 19,935.5 | 15,899.9 | 4,726.0 | 3,769.4 | 24,509.8 | 19,603.0 | |
Total Proved Plus Probable Plus Possible | 44,892.1 | 35,640.0 | 53,574.4 | 42,455.0 | 12,705.5 | 10,068.9 | 66,526.7 | 52,784.7 |
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Net Present Value of Future Net Revenue | |||||||||||
As of December 31, 2016 | |||||||||||
Forecast Prices & Costs | |||||||||||
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| Net Present Value of Future Net Revenue ($ millions) Werbung Mehr Nachrichten zur Kolibri Global Energy Aktie kostenlos abonnieren
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