Prospera Energy Again Finds More Oil Than Expected

October 31, 2023

Kerry Lutz sits down with Samuel David, the driving force behind Prospera Energy’s (GXRFF — PEI) recent success of their drilling program. They dive into the company’s latest achievements, future plans, and their unwavering commitment to reducing their environmental footprint.

Successful Drilling Program: Prospera Energy has seen immense success with their recent drill program, boasting a 5 out of 5 success rate on their horizontal wells.

Impressive Production: Not only have all wells been successful, but the production levels have surpassed expectations, promising higher profits for the company.

Delicate Drilling: Samuel sheds light on the intricacies of drilling in their specific reservoir, emphasizing the importance of minimizing high drawdown.

Future Endeavors: Prospera Energy is geared up for more. Plans are in place to continue drilling and also convert certain wells to injectors, ensuring a steady flow of production.

Operational Success: Their advanced operation and building techniques have been validated by the reserve life index of the reservoirs.

Financial Uplift: Prospera Energy is on a roll, running above their set budget. Plus, they’ve achieved a significant reduction in operational costs, slashing them from $60 to a mere $33 per barrel.

Eco-friendly Steps: The company isn’t just about profits. They have outlined plans to retire 36 vertical locations and are gearing up for a reclamation program next summer, all in a bid to reduce their environmental impact. (Disclosure we hold shares in this company, which is not a sponsor to the channel)

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