BBI.v Blackbird Energy coming to life C$.10
Posted: Friday Dec 20 9:34:49AM 2013
25bpd heavy oil. Market not too excited but could be a good start for BBI.v in establishing a nice base of production. Horizontal wells without fracking could boost production from formation at relatively low costs.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 20, 2013) - (TSX VENTURE:BBI) Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to provide an update on its continued operations.
At the recently drilled A15-6-26-24W3 ("A15-6") well on its Mantario project, Blackbird encountered a 20 meter pay section in the Success formation containing oil bearing sands. The well is now tied in and producing approximately 25 bbls/d of heavy oil with minimal water cut. The well has a high pumping fluid level with additional production capability. The Company is monitoring the well's sand cuts and torque levels for stabilization before further increasing the production rate. The Company is following a carefully planned development versus high initial rates at the cost of future profit.
Blackbird is now beginning to evaluate utilizing horizontal drilling as this project would lend itself exceptionally well to this type of development as it would increase production and total recoverable oil. These horizontal wells have great economics as they require no expensive packer systems or fracture stimulation and qualify for exceptional royalty incentives.
Blackbird will continue to evaluate and increase production on this well with a plan to initiate a horizontal development program in the first half of 2014.
Blackbird holds a 70% working interest in the project.
Blackbird would also like to report that it intends to initiate its Bromhead re-entry in the first week of January. The well is targeting a by-passed Midale oil target.
Blackbird Energy Inc. is a Western Canadian based company that explores, develops and produces oil and natural gas in Western Canada. The Company is managed by a proven technical team. Blackbird trades on the TSX Venture Exchange under the symbol BBI.
Blackbird's team is focused on originating new high quality oil projects through the assembly of land positions in Saskatchewan and Alberta.
For more information please visit the company's website and view the corporate presentation at www.blackbirdenergyinc.com
On behalf of the board of BLACKBIRD ENERGY INC.
Garth Braun, Chief Executive Officer and Director
Posted: Wednesday Nov 13 10:41:20AM 2013
not feeling the love from this PR. No bpd quoted even though Mantario well was put on production. Must be very low production rate.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 13, 2013) - (TSX VENTURE:BBI) Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to report the following update on its operations.
Blackbird is currently licensing its first Midale well on its Bromhead land base where it holds a 100% working interest in two sections (1,280 acres) of land. The application is to re-enter an existing wellbore located at 1-27-3-13W2 to test the Midale formation. This re-entry is focused on by-passed light oil pay that the team has successfully pursued in other pools nearby. A by-passed Frobisher light oil zone is mapped to exist below the Midale as a secondary target.
MANTARIO SUCCESS WELL A15-6-26-24W3
Blackbird has completed its first Mantario Success Well at A15-6-26-24W3 (the "A15-6 Well"). The A15-6 Well encountered approximately 20 metres of oil bearing sands in the Success formation. The well has been cased, perforated and was put into production November 8, 2013. The A15-6 Well will be produced for approximately 15 days prior to releasing results. Blackbird has a 70% working interest in the A15-6 Well.
Garth Braun, President and CEO of Blackbird stated, "The Blackbird team is very pleased with the initial analysis of our oil discovery on the Mantario Project. Our geological team has also identified two similar areas on existing Blackbird lands in our extensive southwest Saskatchewan holdings of over 35 sections. These two additional opportunities are favorable for further exploration through the acquisition of 2D seismic data to apply the seismic template from our recently evaluated Mantario Project. We look forward to continue to build our production and reserves via exploring and developing our lands via the drill-bit."
GREATER KARR MONTNEY & DEEPER RIGHTS
Blackbird has increased its holdings of Montney Petroleum & Natural Gas Rights in the Greater Karr area of Alberta to 18 sections (11,520 acres). All of the acquired sections also include deeper rights including rights to the prospective Duvernay formation.
RELOCATION OF HEAD OFFICE
Blackbird will be relocating its corporate head office to Calgary in the first quarter of 2014 in order to consolidate the location of its management team.
Blackbird Energy Inc. is a Western Canadian based company that explores, develops and produces oil and natural gas in Western Canada and is managed by a proven technical team. The Company holds its assets either directly or indirectly through its wholly-owned subsidiary, Ruger Energy Inc. Blackbird trades on the TSX Venture Exchange under the symbol BBI.
Blackbird's team is focused on originating new high quality oil projects through the assembly of land positions in southwest Saskatchewan and Alberta.
For more information please visit the company's website and view the corporate presentation atwww.blackbirdenergyinc.com.
Posted: Tuesday Sep 17 7:14:02AM 2013
another encouraging PR from BBI.v. This area of the Montney appears to be more oil focused than gas. While I am following the LNG export buildout closely, I still feel oil is the best way for juniors to go. The LNG terminals are several years away and the big ngas shale wells are extremely expensive.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 17, 2013) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is very pleased to be able to announce that it has established a Montney land position in the Greater Karr area of Alberta through the acquisition of 7,680 net acres of Montney Petroleum & Natural Gas Rights by its wholly-owned subsidiary, Ruger Energy Inc.
Garth Braun, President and CEO of Blackbird stated: "These land acquisitions further cement Blackbird's go-forward strategy of originating new oil projects. These Montney lands are going after the same resource that some significant industry players have begun to target such as Shell, EnCana, Kelt Exploration, Canadian International Oil Corp, and Sinopec Daylight Energy. Blackbird specifically focused on the activity currently in the area surrounding these lands by Kelt Exploration and Canadian International Oil Corp. which have drilled a total of 6 wells into what we feel is an analogous pool in the Upper Montney formation. We'd like to highlight that Canadian International Oil Corp. has tested 2 wells: CIOC 16-33 Hz which tested 570 bbl/d and 0.7 mmcf/d and CIOC 5-32 HZ which tested 290 bbl/d and 0.9 mmcf/d and Kelt's initial production from the 16-28 Hz was 534 bbl/d and 3 mmcf/d. The resource we are targeting is the same 38 API oil found in the above wells and furthermore significant infrastructure already exists in the area. We are extremely excited for what lies ahead for Blackbird as we continue to build on our foundation."
Blackbird would also like to announce that Joshua Mann has joined the Company in the capacity of Vice President Business Development. Mr. Mann brings a wealth of capital markets and business development experience through advising companies in the oil & gas, services, technology and agricultural industries. Mr. Mann was formerly an investment banker at Stifel Nicolaus Weisel where during his time with the firm was part of team that assisted corporate issuers in raising over $3 billion in capital.
Posted: Saturday Sep 7 12:15:05PM 2013
Blackbird has popped from .05 to .10 in the last few weeks. Stockhouse poster found insider buying.
Interest appears to be coming from success by Rock Energy at a Mantario play that is close to some land Blackbird purchased this spring. Total purchase was 25 sections but land related to Rock's Manario play is only 1,008 net acres. Blackbird started drilling it's first test well of the Success formation this week. Drilling should take less than a week so we should get test results before the end of September.
The Rock discovery is a definite oil pool of heavy oil. They have missed on two attempts to extend the pool so it's not a shale formation that covers a big amount of land uniformly. Hopefully Blackbird has a similar pool within their land package.
Typical well is 65-100bpd for Rock and delivers excellent returns with paybacks from 17 to 9 months. Rock intends to do waterflood and tertiary treatment to fully exploit the pool. Their netbacks improved dramatically in Q2 due to lower operating costs but also the rebound in prices for heavy Canadian crude. They also have several rail tankers leased and send their heavy oil to Gulf Coast refiners with excess heavy oil capacity to get better pricing. Whether Blackbird could get similar pricing is unknown.
I had given up on my Blackbird shares but maybe there is some hope. Should find out fairly quickly if they have a Mantario pool to develop.