Crescent Point Energy Announces Third Quarter 2013 Results and Upwardly Revised 2013 Guidance for Production, Cash Flow and Capital Expenditures | Prosperity Saskatchewan
Crescent Point had one of its most active quarters for waterflood activity in the Lower Shaunavon resource play during third quarter, converting three producing wells into water injection wells in the Company’s recently approved waterflood unit. The Company currently has six water injection wells operating in the Lower Shaunavon zone of the Leitchville North Shaunavon Voluntary Unit #1 and plans to apply for a second unit adjacent to the first in fourth quarter 2013, where Crescent Point currently has five water injection wells operating in the Lower Shaunavon zone. Crescent Point continues to be pleased with production performance in both its Lower and Upper Shaunavon waterflood projects.
Based on ongoing successful results from cemented liner completion technology, during third quarter the Company transitioned its entire drilling program in the Shaunavon resource play to 24-stage cemented liner completions. Crescent Point expects to continue to refine this completion technology as it proceeds with its drilling program in 2014.