Delphi Energy Corp. is pleased to provide the following update.
With the dispositions of the Wapiti and Hythe assets now complete, Delphi is now singularly focused on its Bigstone assets where it holds 139.5 gross sections (118.1 net) of Montney rights and 81.5 gross sections (60.0 net) of contiguous shallow Cretaceous rights. The Bigstone Montney now represents 87 percent of corporate production.
The Company has finished the 37 stage slickwater frac completion on its fifth well of the 2015 program at 14-24-60-23W5 (0.83 net). Gross final estimated costs for drilling and completion were a company record low of $6.5 million, 36 percent lower than the average drill and complete cost in 2014 of $10.2 million. The well is expected to commence production late in the fourth quarter of 2015.