Arrow Exploration Corp.: Arrow Exploration Announces Potential for Production from West Pepper Well, Alberta
Calgary, Alberta (Newsfile Corp. - April 7, 2021) - ARROW Exploration Corp. (TSXV: AXL) ( Arrow or the Company ) is pleased to provide an update with respect to the potential for natural gas production from the Company s 03-26-52-23W5 well located at West Pepper, Alberta.
Potential for Production from West Pepper Well, Alberta
Arrow is evaluating the potential for the tie-in of behind-pipe natural gas from the 03-26-52-23W5 exploration well (the 3-26 Well ) located at West Pepper, Alberta during Q3 2021. The Company expects to provide a further update with regards to its plans for the 3-26 Well in the coming months.
Frontera Announces 2020 Year End Reserves
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Extended Net 2P Reserves Life Index to 10.6 years in Colombia
2P Reserves Net Present Value (10% discount) of $1.888 billion Before Tax
Added 18.9 MMboe Net 2P reserves from Colombia fields
TORONTO, March 3, 2021 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) (
Frontera or the
Company ) today announced the results of its annual independent reserves assessment conducted by DeGolyer and MacNaughton (
D&M ). All dollar amounts in this news release and the Company s financial disclosures are in United States dollars, unless otherwise noted.
Richard Herbert, Chief Executive Officer, commented: In 2020, Frontera safely and efficiently added 30.6 MMboe Proved plus Probable (
Frontera Announces 2020 Year End Reserves prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
(1)
The terms adjusted funds flow , exploration and development expenditures , net debt and operating netback do not have any standardized meaning as prescribed by Canadian Generally Accepted Accounting Principles ( GAAP ) and therefore may not be comparable to similar measures presented by other companies where similar terminology is used. See the advisory on non-GAAP measures at the end of this press release.
(2)
Barrel of oil equivalent ( boe ) amounts have been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil. The use of boe amounts may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
us or our ) is pleased to announce its independent reserves evaluation for the year ended December 31, 2020, prepared by Sproule Associates Limited ( Sproule ). We re extremely pleased with our reserves results in 2020, said Stephen Loukas, Obsidian Energy s Interim President and CEO. It was a challenging year with extreme oil price volatility impacting all aspects of our business. Despite this environment, our team continued to deliver strong results by drilling some of the most prolific wells in the Cardium that the Company has seen to date. Due to a combination of our deep Cardium inventory and continued cost efficiency gains, we achieved our fourth straight year of greater than 100 percent reserve replacement on total proved reserves and total proved plus probable reserves despite the significantly lower commodity price environment.