ROK Resources Inc. has drilled 4 gross (3.55 net) operated locations in its Southeast Saskatchewan drilling program and will initiate a second phase of drilling operations that include additional horizontal wells in mid-August.
Current corporate production is estimated at 3,300 boe/d (72% oil, NGLs) on the way to a targeted 3,500 boe/d (72% oil, NGLs) 2022 exit. The company revised its forecast of 2022 exit net debt to $26 million (net of working capital), a 13% improvement from its May 9, 2022, forecast.
Phase one of the drilling program was highlighted by a horizontal Frobisher well (100% WI) at Florence that has yielded an IP30 rate greater than 300 boe/d (92% oil, NGLs), exceeding the current type curve by 53%.
At Gainsborough, a successful Frobisher horizontal well (85% WI) has been equipped for production and is expected on stream by mid-August. The company also drilled a successful horizontal well (70% WI) at Workman, which is currently being tested. At Steelman, ROK drilled, cored, and tested a vertical discovery well, which produced oil from the Frobisher formation and sets up offsetting horizontal development, the company said.