Page 9 - NorthAmOil Week 46 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM costs for the four well 04-34 pad are estimated Brent complex which includes the trading of
at ~$70mn while the two well 07-17 pad are physically delivered oil as well as financially
Kiwetinohk clarifies estimated at ~$27mn. The expected payout settled derivatives. WTI Midland will be the
on these pads, based on current commodity
first non-North Sea grade of oil to be included
corporate sales; 26,000- pricing, is approximately six months for in Dated Brent and will only reflect WTI
pad 04-34 and approximately eight months
Midland cargoes loaded from pre-approved
27,000 boepd expected for for pad 07-17. Management will be looking terminals.
“EPIC is honoured to be accepted by
for additional DCET cost efficiencies going
November and December forward through improved execution and Platts to deliver WTI Midland crude oil into
the Brent complex,” said Brian Freed, chief
optimised well design.
Kiwetinohk Energy today clarifies its current With the addition of the new wells, the executive officer of EPIC. “This addition
sales by providing updated corporate sales Simonette plants are operating near full recognizes the strict export quality grade
levels and fourth quarter 2022 guidance. The capacity (including recycled gas lift volumes). crude oil EPIC delivers, and further highlights
company is also increasing its annual guidance This supports the company’s announced the strategic importance of Corpus Christi in
for 2022 and providing an operational update expansion plans to increase Simonette meeting the global energy demands.”
on its new well performance, well costs and processing capacity by approximately 40 EPIC Crude delivers up to 600,000 barrels
expected investment payouts on new well mmcf/d for a cost of $45-55mn as part per day of crude oil from it’s ~3.5mn barrel
pads. its 2023 capital programme. The capacity Robstown terminal to export terminals and
Sales averaged approximately 17,000 boepd additions are expected to be available by refineries in Corpus Christi and Ingleside,
for the month of October. Total corporate year-end 2023, supporting further production including EPIC’s crude marine terminal
sales are expected to average between growth opportunities into 2024. In addition to capable of loading Aframax-sized tankers.
approximately 26,000-27,000 boepd for each the plant expansions, Kiwetinohk will electrify EPIC CRUDE HOLDINGS, November 14, 2022
of November and December for an expected the 05-31 plant to reduce Scope 1 emissions
fourth quarter average of approximately and is advancing grid access for the 10-29 Iron Horse Midstream
23,000-24,000 boepd. This is a 40-46% facility.
increase over third quarter sales volumes KIWETINOHK ENERGY, November 16, 2022 announces new natural
of 16,486 boepd reported on November 10,
2022. The six new Simonette wells are now gas processing plant in
producing through permanent production MIDSTREAM
facilities and have contributed to recent peak Oklahoma’s SCOOP/STACK/
daily sales rates of approximately 30,000 EPIC crude terminal added
boepd. Merge play
The four well 04-34 pad at Simonette to the leading international
has been producing at approximately Iron Horse Midstream announced today
12,500 boepd (~55% natural gas and ~45% crude oil pricing benchmark its plans to construct a new, 200mn cubic
condensate) and the two well 07-17 pad feet per day (mmcf/d) natural gas cryogenic
at North Simonette has been producing at EPIC Crude Holdings today announced that processing plant on its existing 120-acre
approximately 3,100 boepd (~25% natural Platts will include the company’s crude marine complex located in Grady County, Oklahoma,
gas and ~75% condensate). Strong initial terminal in Corpus Christi as a pre-approved in the heart of the SCOOP/STACK/Merge
performance of these wells may result in steep terminal for WTI Midland crude oil in its play in the Anadarko Basin. The new plant,
decline rates typical of prolific shale wells. The Platts Dated Brent and Cash BFOE Market- which is expected to be operational in late
company’s ultimate goal in modifying well on-Close price assessment beginning with 2023, will increase Iron Horse’s total natural
designs is to achieve high initial productivity June 2023 deliveries. gas processing capacity in the region to
and larger recovery. Preliminary drilling, Dated Brent is the world’s leading crude 425 mmcf/d, with the capability for further
completion, equipment and tie-in (DCET) benchmark and a critical component of the expansion as driven by customer needs.
“As production activity in this highly
prolific area continues to increase, installing
our second train is a natural and necessary
growth opportunity. Expanding our Iron
Horse processing complex provides capacity
exactly where it is needed – in the core of
the basin, where we have access to numerous
high-quality, residue gas markets,” said Tim
Roberts, Iron Horse chief executive officer.
“We understand that our success is driven by
the success of the companies we serve; this
expansion is a testament to our continued
focus on providing reliable, customized and
flexible midstream solutions to our producer
customers.”
Iron Horse Midstream currently owns
and operates a newly built, highly efficient

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