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Energy explorer soars on shale gas flow
Questerre Energy (TSX: T.QEC
) shares jumped 37% to $5.05 on Tuesday after the energy explorer/producer reported test results from the St. Edouard No. 1A horizontal well in the St. Lawrence Lowlands, Quebec. The horizontal well was successfully completed with eight stage fracture stimulations. Clean-up and flow back commenced January 29, 2010. Initial rates were over 12 MMcf/d. During the test, the well flowed natural gas at an average rate of over six MMcf/d. The well is currently still flowing on an extended production test. The current rate is approximately five MMcf/d at a flowing tubing pressure of 4412 kPa (640 psi) with a choke size of 5/8 inch.
) shares jumped 37% to $5.05 on Tuesday after the energy explorer/producer reported test results from the St. Edouard No. 1A horizontal well in the St. Lawrence Lowlands, Quebec. The horizontal well was successfully completed with eight stage fracture stimulations. Clean-up and flow back commenced January 29, 2010. Initial rates were over 12 MMcf/d. During the test, the well flowed natural gas at an average rate of over six MMcf/d. The well is currently still flowing on an extended production test. The current rate is approximately five MMcf/d at a flowing tubing pressure of 4412 kPa (640 psi) with a choke size of 5/8 inch.
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