Prospera Energy reports 3.3x production boost from Luseland well workovers
Prospera Energy Inc. reported that five Luseland wells, worked over between September 21 and October 10, 2026, have returned to production averaging 53.5 barrels per day, a 3.3-fold increase from prior rates. The program cost $247,100, coming 23% under its $322,000 budget. This efficiency, at approximately $6,600 per incremental barrel, demonstrates capital discipline. Meanwhile, two Cuthbert wells are online, and a third workover is in progress, continuing the company's fall service rig program.
Key points
- Prospera Energy Inc., a Calgary-based oil and gas company listed on the TSX Venture Exchange, announced an update on its fall service rig program on October 24, 2026.
- All five Luseland wells worked over between September 21 and October 10, 2026, have returned to production, averaging a combined 53.5 barrels per day, which is 3.3 times their previous rate of 16.0 barrels per day.
- The Luseland workover program cost $247,100 against a budget of $322,000, resulting in savings of $74,800, or 23% under plan, with four of the five jobs coming in under their individual approved funding estimates.
- The company calculated a capital efficiency of approximately $6,600 per incremental flowing barrel per day across the five Luseland wells based on average production rates since startup.
- At the Cuthbert location, workovers on two wells are complete and online, while a third workover is currently in progress, indicating ongoing activity in the fall service rig program.
- Specific well 10-04-36-25W3 has averaged 16.0 barrels per day since its October 20 restart, up from 1.0 barrel per day before the workover, while well 7-33-35-25W3 remains down awaiting a rod rig.
Prospera Energy Inc., a Calgary-based independent oil and gas company, has reported significant production increases following a series of well workovers in its Luseland asset. The company announced on October 24, 2026, that all five wells serviced between September 21 and October 10 have returned to production. These wells are now averaging a combined 53.5 barrels per day of oil, a substantial 3.3-fold increase from their pre-workover average of 16.0 barrels per day. Since startup, the group has produced 793 barrels through October 23.
The financial performance of the Luseland program highlighted capital efficiency. The total cost for the five workovers was $247,100, coming in 23% under the $322,000 budget. This resulted in savings of $74,800, with four of the five individual jobs meeting or exceeding their specific funding estimates. The company calculated a capital efficiency of approximately $6,600 per incremental flowing barrel per day, a metric that underscores the cost-effectiveness of the intervention. Specific well 10-04-36-25W3 saw its production rise from 1.0 to 16.0 barrels per day, while well 7-33-35-25W3 is currently awaiting a rod rig.
Operations continue at the Cuthbert location, where workovers on two wells are complete and online. A third workover is in progress, indicating that the fall service rig program remains active. This update provides investors with concrete data on the company's ability to enhance production rates while maintaining budgetary discipline in its Canadian operations.
Sources
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