In 2013, I was the first analyst to publish on an unknown company that had little money, an interesting land position and management team I liked. I believed in the world-class potential of its Montney acreage.
My fund, myself personally and my subscribers at my old firm all bought shares in Blackbird Energy Inc.
Blackbird Energy Inc. (BBI.TSXV) just shocked the Canadian oil patch with an incredible oil well.
It is rare for a management team in the junior resource sector to actually exceed ones expectations. Garth Braun and his team at Blackbird Energy Inc. have done exactly that by bringing on a world class well.
This is the type of well that is expected in Kuwait, not Alberta.
The purpose of today’s email is to share a video interview of me and Garth Braun, the President and CEO of Blackbird Energy Inc. People are the most important aspect in a resource company, especially in a junior. This video highlights the technological advances Garth and his team have employed to deliver exceptional results.
Blackbird delivered one of the best results I have ever seen in the Montney, and in the Canadian oil patch—period. This is not meant to be a promotion. I am sending this email because this is an impressive oil well that will drive a takeover.
Blackbird announced a 1,768 boe/d well (36% liquids; with 94bbl/mmcf) last week, and the well results basically doubled all analyst expectations.
This is what a world class well looks like in Canada.
The company has no debt (rare for any Canadian oil company in today’s environment), and has built a dominant land position in the Montney with 75 net sections of land.
To survive a low priced oil market, management teams will have to innovate to deliver results. Blackbird Energy Inc. has made significant advancements in validating their dominant land position by using state of the art technology.
Blackbird was able to deliver world class results by executing on a 70 stage energized frac using 20,000 m3 of CO2 and water while using 2,200 tonnes of proppant. This is what a world-class frac looks like.
The big boys in Texas took notice as did the oil men in Alberta. And this was a condensate rich well, a big bonus.
The last middle Montney well delivered slightly above 400 boe/d results (44% liquids). This well improved those metrics by over 300%, but the costs actually improved.
That is exactly what the oil companies in both Canada and the US will have to do to survive this horrible oil market…. Bring innovation and exceed expectations.
Marin Katusa
