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The Kakwa area is situated approximately 75 kilometres south of Grande Prairie in west central Alberta.
Capital investment in Kakwa totalled $3.6 million for the 2023 year (2022: $11 million) with daily production averaging 1,536 boe/d (2022: 1,404 boe/d) comprising of 4.7 MMcf/d of natural gas (2022: 4.2 MMcf/d) and 753 bbl/d of condensate and natural gas liquids (2022: 720 bbl/d). Total proved and probable reserves as of December 31, 2023, were estimated at 25.0 MMBoe (2022: 28.4 MMBoe) with a before tax NPV-10% of $178.6 million (2022: $247.2 million). The Company currently holds 40,320 (17,700 net) acres in the Kakwa area.
At Kakwa Central, the operator completed and tied-in two (0.5 net) wells during 2023. Questerre holds a 25% interest in these wells. The operator subsequently spud two wells during the quarter and the third early in the second quarter. Questerre holds a 25% working interest in these wells. Subject to the timing of completion, the wells will be tied-in and on production in the fourth quarter.
The Company plans to participate in the future drilling at its joint ventures, subject to among other things, commodity prices, and the costs and design of the proposed drilling and completion programs.
