Ovintiv follows announced drilling cuts with well completion

Just a few days after Denver-based Ovintiv announced the slashing of spending and drilling operations and intentions to have only two active rigs in Oklahoma, the firm filed what might be one of the last completion reports for a while in the state.

The company completed the Taylor 7-5-15-10-21h well at 17 7N 5W southwest of Blanchard in Grady County. It had production of 256 barrels of oil a day and 281 Mcf of natural gas from a depth of 17,188 feet in the Mississippian formation.

Ovintiv reported a spud date in June of 2018. Drilling finished in August of that year and the completion was made in February 2019, but not reported until this week with the Oklahoma Corporation Commission.

Earlier this week, the company, formerly known as Encana and based previously in Canada announced intentions to drop nearly two-thirds of its operating rigs and reduce cash costs by $100 million. Ovintiv immediately halted the work of 10 drilling rigs and stated that after May, it would have only two operating rigs in Oklahoma’s Anadarko Basin, three in the Permian Basin and two in Canada.