DJ Basin, Colorado, USA
- In September 2018 the Company acquired a 36.5% WI in an initial 355 gross acres over 16 sections in Weld County, Colorado
- The acquired lands, have to potential for 64 drilling locations spread across 8 DSUs.
- The average EUR per well using 3/4th generation drilling techniques is 764,000 boe with some operators recently advising over 1,000,000 boe
- The strategy, with its partner, is to utilise Corlorado's developmemt pooling system to create DSUs and maximise its interest
- Drilling costs for a 2 mile lateral continue to reduce and presently are below US$5.5m per well completed on production.
- Weld County generates 90% of all oil produced in Colorado and provides world class access to operational services and pipelines.
- The expected working interest is between 7% and 25% in each DSU.