At the time of completion of the acquisition, the properties were producing 737 barrels oil equivalent per day (boed) with an additional 70boed as royalty production income.
Shoreline Energy observed the current production from the assets has increased by 9% to 800boed with an additional 65boed as royalty production income.
Increase in the production was made possible through the reactivation of five wells and two oil well workovers resulting in a field estimated initial production rate of 115boed brought on stream.
The company is planning to reactivate an additional three wells, recomplete three wells and work over one well for the remainder of the year.
The first horizontal oil well will target light oil in the Doig formation.
For the remainder of the year, the company expects to drill two horizontal oil wells targeting Charlie Lake Formation light oil and one vertical well targeting Charlie Lake Formation light oil.
The company is in the process of acquiring three non arms length private companies announced 5 July, 2011, and is anticipated to close in next month.
