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ENERGY & UTILITIES | Oil & Gas Production & Exploration
saguaroresources.com

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Stage

Unattributed - II | Alive

Total Raised

$348.09M

Last Raised

$6.25M | 6 yrs ago

About Saguaro Resources

Saguaro Resources was formed in 2012 to pursue exploration, acquisition and development opportunities in unconventional light oil and liquids-rich natural gas plays in the Western Canadian Sedimentary Basin.

Saguaro Resources Headquarter Location

South Tower 222 3rd Ave SW, #440

Calgary, Alberta, T2P 0B4,

Canada

403-453-3040

Latest Saguaro Resources News

Calima tunes up Canadian oil and gas play

Oct 28, 2020

Share to Facebook Copy the Link ASX-listed Calima Energy has confirmed the productivity of the Upper and Middle Montney formations across its Canadian ground after retrieving downhole gauges and analysing 18 months’ worth of pressure data from its two Canadian light oil and gas wells. Interestingly, independent analysis of the data has likened Calima’s wells to those of neighbour, Saguaro Resources, who recorded this year’s second-best initial production flow rate in the Montney oil and gas formation in Canada. The pressure data analysis is being undertaken by leading global energy information services company, Canadian Discovery and the ongoing effort has already confirmed the productivity of Calima’s Montney land. Technical experts are pouring over around 495 days of recorded pressure data From the Calima No.2 horizontal well and 540 days of data from the Calima No.3 well. The company said these data points are being integrated with its existing historical core data recovered from the original Calima No.1 vertical test well. The pressure gauges were placed in each horizontal well when they were first drilled and fracture-stimulated way back in the Canadian winter of early 2019. The initial results indicate that Calima’s Middle Montney formation is over-pressured, offering some additional energy via pressure support for future horizontal well completions in that zone. The Middle Montney holds the bulk of oil and gas resources on Calima’s ground and Saguaro’s well immediately to the south at Laprise Creek exhibits similar characteristics. Independent resource volume calculations and subsequent economic valuations for unconventional oil and gas wells across North America typically use nearby offset wells as templates for evaluation and by any measure, Saguaro’s hundreds of millions spent to-date has been a worthwhile spend. A typical well at Laprise Creek with similar reservoir rock properties has an initial 90-day liquids production rate of 223 barrels of condensate per day and a condensate-to-gas ratio of over 50 barrels of liquids per million cubic feet of gas per day. Calima also said Saguaro had trimmed its drilling and completion costs by 30 per cent over recent years which would translate to improved economics from higher estimated ultimate oil and gas recoveries at each future well. Initial results of the current analysis for the Upper Montney have indicated a normal pressure regime in the reservoir but with enhanced rock properties. This new interpretation will lead to a refreshed and cheaper completion design for future Upper Montney wells which should lead to a quicker clean up phase during initial flow back to produce a higher early production flow rate. These are positive results which confirm the excellent productive capacity of the Montney section tested by the Calima 2 and 3 wells. The Middle Montney pressures and rock characteristics are as expected and confirm the productive nature of the horizon. The enhanced reservoir characteristics of the Upper Montney combined with normalized pressures explains a great deal about why it took longer than anticipated to establish strong flow rates from that interval. Our development plan will now be based on completion designs optimised for each interval. The work on the core and pressure data continues and we look forward to providing future updates as the work is completed. Calima Energy Canadian President, Michael Dobovich The Montney Formation is Canada’s hottest oil and gas play right now and currently boasts around four times the gas resource volumes of Western Australia’s revered North West Shelf according to Calima. The small-cap oil and gas developer carved out an impressive advantage for itself in the region on the back of its recent transformational Tommy Lakes oil and gas processing infrastructure acquisition nearby. The company subsequently upgraded its oil and gas resource volumes and currently has 12.4 million barrels of light oil and 248.9 billion cubic feet of gas in the “Development Pending” category, volumes which would immediately be elevated into the 2P Reserves category, once it secures funding. The comparative pressure analysis completed so far augers well for Calima as it looks to pump up its resource volumes and commercial valuations further ahead of a formal development decision, hopefully next year. Is your ASX listed company doing something interesting? Contact: matt.birney@wanews.com.au

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Saguaro Resources Patents

Saguaro Resources has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

11/26/2014

4/24/2018

Motor oils, Roofs, Roofing materials, Engine technology, Thermodynamics

Grant

Application Date

11/26/2014

Grant Date

4/24/2018

Title

Related Topics

Motor oils, Roofs, Roofing materials, Engine technology, Thermodynamics

Status

Grant

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