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Article: Canada : Celtic Reports Record Production of 15,307 BOE Per Day in the Third Quarter of 2009, With Additional Volumes Behind Pipe.
- Article from:
- TendersInfo
- Article date:
- November 7, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
The three months ended September 30, 2009 was another successful quarter in the execution of the Company's growth strategy. Highlights for the third quarter of 2009 are as follows:
- Drilled 14 (11.8 net working interest) natural gas wells during the quarter resulting in an overall success rate of 93%;
- Increased average daily production by 32% to 15,307 BOE per day, up from 11,604 BOE per day in the third quarter of 2008;
- Received an average price of $28.67 ($35.11 after hedging) per BOE, down 59% from $69.21 ($61.51 after hedging) per BOE in the third quarter of 2008 and recorded an operating netback of $21.94 per ...