Calima Energy’s (ASX:CE1) Brooks infrastructure pipeline ahead of schedule and on budget

• Calima Energy’s (CE1) pipeline infrastructure is progressing ahead of schedule and on budget at its Brooks project in Alberta, Canada.
• During February, well maintenance activities and pipeline construction resulted in average production above 4,200 barrels of oil equivalent per day (boe/d).
• The pipeline connects Calima’s oil battery in the north to the recently drilled Gemini wells in the south to provide egress for planned production growth.  
• The Gemini #6 well is on production while Gemini #5, Gemini #7 and Pisces #3 will be brought on production within the next two weeks.
• Shares in CE1 were trading 2.17 per cent lower at 22.5 cents.

Calima Energy’s (CE1) pipeline infrastructure is progressing ahead of schedule and on budget at its Brooks project in Alberta, Canada.

During February well maintenance activities and pipeline construction resulted in average production above 4,200 barrels of oil equivalent per day (boe/d).

The pipeline connects Calima’s oil battery in the north to the recently drilled Gemini #5, #6 and #7 and Pisces #3 wells in the south to provide egress for planned production growth.  

The Gemini #5 and #6 wells are now tied into the pipeline.

Gemini #7 will be tied-in within a week and Pisces #3 will be tied in by mid-March.

Gemini #6 is on production while Gemini #5, Gemini #7 and Pisces #3 will be brought on production within the next two weeks.

Pisces #3 has been fracture stimulated and will be flowing back post the next seven-day shut-in period.

The final section of the pipeline is expected to be connected and flowing into the battery by the end of March.

Chief Executive Officer and President Jordan Kevol said the company is very pleased with progress in the field at Brooks.

“Before the winter frost melts, the team is focused on the Bantry Field at Brooks to equip and tie-in the four wells currently behind pipe (Gemini and Pisces),” said Mr Kevol.

“We are ahead of our goal of having Gemini #5, #6, #7, and Pisces #3 on production by the end of March which will positively contribute to current cash flow and our H1 2022 average production of 4,000-5,000 boe/d.”

Shares in CE1 were trading 2.17 per cent lower at 22.5 cents.