Coelacanth Energy fall drilling program to be completed in October

Coelacanth Energy commenced a four-well drilling program at Two Rivers East in Canada on 1 September with the first well spud on the 5-19 Pad. The complete program consists of drilling and completing three Lower Montney wells, completing one previously drilled Upper Montney well, and drilling a Bluesky disposal well for a total cost of approximately $36 million.

The four pad wells are scheduled to be completed starting late October 2024.

The three 5-19 Lower Montney wells drilled in 2023 had tested at a per-well average of 1,338 barrels of oil per day (boe/d) for a combined rate of 4,014 boe/d (54% light oil). The Upper Montney has not produced in the immediate area but has been prolific in the greater region.