Prospera Energy Inc.

Prospera Energy Inc. . Prospera Energy Inc. is a publicly traded energy company based in Western Canada, specializing in the exploration, development, and production of crude oil and natural gas. Prospera is continuing to execute the horizontal transformation and is attaining the expected results. Seven horizontals have been drilled with three more expected prior to year-end. Prospera also drilled the light oil slanted [...]

Prospera Energy Inc. . Prospera has resumed the phase two development of the horizontal infill drilling program. The sixth horizontal well spudded last Sunday and the horizontal infill drilling transformation from vertical wells will continue through the winter to next year's break up. Prospera's quick turn-around in bringing this specific horizontal production online enables the company to sustain its momentum and [...]

Prospera Energy Inc. In Q3 2023, Prospera was steadily recovering production rates that had been impacted by adverse weather in earlier quarters. During Q3 PEI attained gross peak rates of 770+ boe/d, with another 350 boe/d behind the pipe to be optimized. Meanwhile, phase 2 development drilling commenced in Q3, and this horizontal drilling program required the temporary shut-in of the adjacent production of approximately [...]

Prospera Energy Inc. . Prospera's two of the five horizontal wells have commenced production over a week and have each yielded 125bpd/well with less than one percent water cut. These new horizontals were brought on strategically at a low pump efficiency of approximately thirty percent to accommodate the heavier viscous oil to achieve steady flow to peak over the next few months. These initial rates are exceeding the [...]

Prospera Energy Inc. . Prospera has successfully drilled five horizontal wells of the multi-well infill horizontal development program. Two horizontal wells have commenced production and the remaining three horizontal wells will commence production in the subsequent weeks. Currently, PEI gross production levels are 800boepd with 400boepd behind pipe to accommodate development. Over the next month, Prospera is expected to [...]

Prospera Energy Inc. . Prospera has completed the drilling of four horizontal wells of the ten well multi-pad infill drill program. These wells encountered structure and pay as expected with excellent oil show throughout the pay. The drilling technique tweaked from the pilot wells were executed efficiently and ahead of schedule. High praises to Lasso Drilling Corporation for the effective synergy with Prospera to attain [...]

Prospera Energy Inc. . Prospera is pleased to announce the spudding of the first horizontal well of the ten well modular multi-pad infill drill program in the latter part of this week, subject to any weather-related or uncontrollable delays. Close to a hundred services have been coordinated along with lease preparation, permits and licences. This modular multi-pad infill drill program stems from a comprehensive [...]

Prospera Energy Inc. is pleased to provide an update on progress made on the Pilot Project for Partial Upgrading of Bitumen, in collaboration with Aduro Clean Technologies Inc. . Restructured Prospera continues to increase its asset value by executing its development program to capture the significant remaining reserves. While, engaging in innovative ESG methods to diversify product mix and to improve profit margin, such [...]

Prospera Energy Inc. Prospera announces its second quarter 2023 financial and operating results. In Q2 PEI rebounded to 478 boe/d and net revenue of $3.1M from Q1 production shortfalls caused by extreme cold weather. Prospera is pleased to announce the financial milestones achieved as follows: Realized positive Operating Netback of $1,094,364 in Q2 compared to -$549,618 in the first quarter of 2023. Operating Expenses [...]

Prospera Energy Inc. Prospera Energy Inc. is pleased to announce the mid-August spud of its phase 2 restructured development program intended to increase production. The Phase 2 development entails the drilling of 10 horizontal wells in heavy oil and 8 slanted wells in medium-light oil to accelerate growth and capture the significant remaining reserves . These horizontal laterals and slanted wells will allow PEI to [...]