お知らせ • Jun 18
Prospera Energy Announces Operations Update
Prospera Energy Inc. announced it remains committed to providing stakeholders with transparent, timely, and data-driven updates on operational performance and field developments. This monthly report delivers key insights into the company’s production trends, optimization initiatives, and strategic advancements. All production figures represent the Company’s gross sales, reported in accordance with NI 51-101 and applicable industry standards. Prospera continues to demonstrate strong operational performance, averaging gross production of 880 boe/d (94% oil) from June 1st to June 15th. This sustained growth follows successful spring break-up maintenance, Cuthbert water tank repairs, and extensive well optimizations completed in late May after lease roads dried up and became accessible. This marks the sixth consecutive operations update reporting production growth. Notably, these figures exclude production from the recently acquired White Tundra Petroleum assets, which is pending acceptance by the TSXV. A comprehensive well-by-well analysis and waterflood optimization review have yielded valuable insights, which are being actively implemented throughout the summer. Concurrently, Prospera’s service rig is diligently addressing the company’s inventory of over 150 workover and reactivation wells across its heavy oil properties, further enhancing operational efficiency. Western Canadian Select (WCS) differentials continue to remain at record-low levels, recently trading at less than $9/bbl under US Benchmark West Texas Intermediate (WTI). Given Prospera’s predominantly heavy oil production base, these favorable pricing conditions are contributing to enhanced revenue and cash flow. This improved netback supports the Corporation’s strategy to reallocate capital efficiently into high-impact projects, as it finalizes plans for its Third Quarter and Fourth Quarter service rig programs. Cuthbert:
Production at the Cuthbert pool has been stable, averaging 350 boe/d (100% oil) from June 1st to June 15th, driven by ongoing well speed-ups and waterflood optimization efforts along with completion of infrastructure upgrades. Two disposal wells underwent injector cleanouts using solvent-based chemicals, yielding promising initial results that enhance out-of-zone water disposal and improve waterflood pattern efficiency and injection volumes. Additionally, an overhaul of the third injection pump has been completed, positioning it for immediate service. A high-impact remediation project on the 16-28 HZ well is underway, including the installation of a downhole bridge plug to isolate a section of the well previously drilled into coal and water, further optimizing operational performance. Hearts Hill: Production at the Hearts Hill pool continues to trend upward, averaging 245 boe/d (89% oil), with oil cuts steadily improving due to effective load fluid recovery, well speed-ups, and ongoing waterflood optimization efforts. The Corporation is conducting a line-by-line review of all pipelines in the area to validate injection volumes, ensure pipeline integrity, and prepare for further field reactivations. Additionally, Prospera is advancing technical studies on conformance gel injections to mitigate water channeling, while exploring uphole potential in zones, including the proven Sparky sand and the prospective Waseca and Rex sands. Luseland: The Corporation continues to report strong production growth at the Luseland pool, averaging production of 179 boe/d (100% oil), bolstered by successful post-spring break-up workovers and reactivations. Notably, the 01-17 well is consistently producing at 15 bbls/d, while the 03-09 well continues to climb, now producing 17 bbls/d with further upside potential through ongoing optimization efforts. The 04-33 well, carefully managed through a significant sand influx, underscores the company’s operational expertise as it is now producing 22 bbls/d. These achievements reinforce Prospera’s strategic focus on reactivating legacy wells with substantial original oil in place (OOIP). By bringing these wells back online, the company is successfully transforming assets previously classified as No Reserves Associated (NRA), with only Asset Retirement Obligations (ARO), into actively producing wells with meaningful Proved Developed Producing (PDP) reserves and associated cash flow.