Kolibri holds about 17,100 net contiguous acres in the SCOOP, with reserves sources from the Caney Formation. (Source: Shutterstock/ Kolibri Global Energy)
California’s Kolibri Global Energy has drilled its first three 1.5-mile lateral wells in the company’s Tishomingo Field in Oklahoma’s SCOOP region.
Kolibri reported drilling the Alicia Renee 2-11-3H, 2-11-4H and 2-11-5H wells safely and under budget. Each well was drilled in an average 14 days each compared to a budgeted 20-day duration. The wells will be simultaneously completed beginning in early October, with flowback anticipated in early November, the company said in a Sept. 18 press release.
Kolibri holds a 100% working interest in all three wells. The company holds about 17,100 net contiguous acres in the SCOOP, with reserves sources from the Caney Formation, according to the company’s website. The company has 31 operated horizontal Caney Shale wells and reported proved and probable (2P) reserves of 54.1 MMboe gross.
The company also reported 170 additional Caney locations with reserves comprising 72% oil.
“We are looking forward to getting these wells on production in the fourth quarter to further increase our cash flow and to evaluate the economic benefits of these longer lateral wells,” Wolf Regener, Kolibri president and CEO, said in the release. “With the wells being drilled so quickly, we are hopeful that these longer laterals can have a material impact in improving the economics and value of the field.”
Kolibri Global Energy is listed on the Toronto Stock Exchange.
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