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Cardium Light Oil, Drill Ready Prospect Available to Industry

November 15, 20181:39 AM BOE Report Staff

Highlights:

  • 12.5 sections (8,000 gross acres; 7,552 net). Average working interest across all lands is 94%.
  • 100% owned existing surface lease with facilities and adjacent high grade road & NG pipeline tie-in, including a vertical Cardium Fm. producing oil well (7-12-59-25W5)
  • Pad drilling from up to 5 existing surface leases allows for up to 23 horizontal locations (@ 4 wells per section spacing) with year-round access. Infrastructure and available capacity also in place.
  • Existing vertical production (2140 m TD) is up to 20 BOPD (40.1 API; light sweet oil). Recent development at the analogous Wapiti field has yielded 450 BOPD IP 30 with EUR ~326,000 barrels.
  • Commissioned Geological “chip sample” study between Berland and Wapiti confirms comparable look-alike reservoirs at both pools.
  • Current economics improve based upon longer horizontals and modern completion techniques reflecting EUR 504,000 BOE (over 300,000 bbls) per well with IP90 of 384 BOE/d.
  • Development plan amongst several by-passed pay Cardium wells.

KXL 100% Cardium vertical producer at 7-12—59-25W5M

Development plan for the Cardium at Berland River with existing infrastructure overlying net pay map

Upon execution of a confidentiality Agreement, Kaiser will be scheduling technical presentations for interested parties.

Bid deadline: December 12, 2018

To request a copy of the CA or to discuss further please email kxlland@kxl.ca

Cardium Property Listings

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