December Webinars

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December Webinars

Post by dan_s »

December 16: My monthly live Oil & Gas Market Update

December 21: InPlay Oil is hosting a webinar and giving us details on the Prairie Storm Resources Acquistion that closed on November 30. This highly accretive acquisition puts InPlay on a clear path to over 9,000 Boe per day of production by mid-2022.

InPlay's share price is up ~500% YTD

Note from Doug Bartole, InPlay's CEO on November 30:
"InPlay’s Cardium focus has resulted in record quarterly production and financial results and we are excited to continue to pursue these same successful results in the upcoming quarters following today’s closing of the strategic Acquisition of Prairie Storm. This focused, synergistic acquisition is a positive complementary piece in our consolidation strategy providing a further enhanced solid foundation and more sustainable Company. Current production of the combined Company based on field estimates is approximately 8,050 boe/d (61% light oil and NGLs).

InPlay’s plans are to immediately start drilling two (1.6 net) additional Extended Reach Horizontal wells on the Prairie Storm lands that were originally intended to be drilled in November and on production in December. Completions are expected to start on these two wells early in 2022. In December, work to tie-in these two wells will commence as well as preliminary construction work allowing us to start further drilling early in the first quarter of 2022. Our updated 2021 capital program is now expected to total approximately $32.5 million. InPlay’s updated post-Acquisition pro-forma 2021 guidance and post-Acquisition preliminary corporate outlook for 2022 remains otherwise unchanged. Please refer to our press release dated September 28, 2021 for further details.

Final decisions relating to our board approved 2022 capital program and outlook are expected to be made and announced early in 2022 and will be largely influenced by commodity prices and industry fundamentals at that time. The Company will continue to be disciplined and flexible with capital spending allowing us to execute our strategy generating measured production per share growth combined with strong free adjusted funds flow, debt reduction and maximizing returns to shareholders.
Dan Steffens
Energy Prospectus Group
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