UK junior I3 reports further output growth in Canada
UK junior I3 Energy has raised its production rate to 22,000 barrels of oil equivalent/day from its wells in Canada, the company said in a stock filing on September 27, up from 20,000 boe/d at the end of June.
The company's current output includes 69mn ft3/day of gas, 6,470 barrels/d of natural gas liquids and 4,030 b/d of oil and condensate, including royalty production. It is targeting a further growth to 24,000 boe/d by year-end, on the back of an ongoing drilling programme.
I3 operates 700 wells across various plays in Canada, and is also looking to develop the Serenity and Liberator discoveries in the UK North Sea. It has drilled 20 wells this year, of which 13 are now producing, five are being cleaned up following tie-ins and two are awaiting completion. It expects to bring the seven latter wells on stream in late October.