UPDATE: Birch Lake Energy Edges Down As Provides Lochend Drilling Update
Birch Lake Energy Inc. (BLK.V) provided an update on the first of its previously announced two well drilling program on its Lochend Cardium property.
It said: "The initial well was drilled to its projected depth and completed with a multi-stage slick-water frac of the horizontal section. Over a swabbing period of 115 hours, the well recovered a total of 6,305 barrels of fluid comprising 5821 barrels of frac fluid and 484 barrels of oil. The final 12 hours of swabbing recovered 97 barrels of fluid with a final oil cut of 70%. Gas rates during the testing were too small to measure while approximately 6,841 barrels of frac fluid remain to be recovered (approximately 50% of frac load). The well has been secured and shut in for pressure build-up over Christmas, while drilling and casing of the second well is underway with completion planned for early January 2013.
"The corporation is very pleased with the initial results of this first well as it is more than 6 miles along trend from nearest Cardium production. These results confirm the Cardium potential over the majority of Birch Lake's lands and greatly de-risk further drilling.
"The Corporation will provide further announcements as additional information becomes available."
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