Petroflow Energy Ltd. is an oil and gas exploration and production company with assets in Oklahoma, Texas and Alberta, Canada. The company is most active in Oklahoma where it is developing the Hunton Resource play.
Petroflow Energy just reported May production on its properties in this basin. The company produced at a peak rate of 4,519 barrels oil equivalent (BOE) per day, and at an average rate of 4,132 BOE per day. This production was up 11% sequentially from April 2009 and was composed of natural gas, oil and natural gas liquids (NGL).
Petroflow Energy uses horizontal drilling technology to drill wells in the Hunton Resource play, which allows for higher production and reserve recovery. These wells are drilled at an average depth range of 4,500-6,500 feet, and cost $2.1 million to drill and complete. The company estimates its reserves at 2.5 Bcfe per well.
“Our investment in the Hunton Play in Oklahoma is based on two principle elements. First, this activity is a low risk enterprise with predictable production curves; and second, the use of this type of technology is repeatable in many areas.” said John Melton, the Chief Executive Officer of Petroflow Energy Ltd.