Crimson Energy(CEL), operator of the well and gathering line, said that the construction is estimated to be completed by month end, along with the installation of surface equipment.
The production is anticipated to begin in mid February after a period of line and surface equipment testing by the operator.
The company earned a 19.3545% working and revenue interest in two wells and two sections through Altima and Unbridled Energy fulfilling their obligations under a participation agreement with CEL.
The agreement provided for the fracture stimulation, completion, and testing of multiple zones in CEL’s drilled and cased well in 41-10 W5M.
Altima Resources president and CEO Rick Switzer said that four zones in the well were completed and will be co-mingled for production.
"Testing has shown the gas is of high Btu value and the well is indicated to produce approximately 25 barrels of condensate and natural gas liquids per million cubic feet of gas," Switzer said.
