PRD Energy Inc. provided operational update on Boerger Field for the fourth quarter of 2014. During the fourth quarter of 2014, the Boerger 7A well produced 1,524 barrels of oil over 27 operating days (56 barrels per day), 762 barrels net to PRD. The well was shut in between November 10, 2014 and February 18, 2015, to conduct minor upgrades and repairs to the surface facilities.

Since February 18, 2015, the well was placed on production with some downtime between March 12 and March 26. The company is in discussions with its joint venture partner to become the designated operator of the Boerger pool (through either acquisition of the partner's interest or by mutual agreement) in order to accelerate development timeframes for the Boerger pool. The company is planning to drill two additional deviated wells from the Boerger 7A well site in the first quarter of 2016, as the next stage of development for the Boerger pool, conditional on the company completing the acquisition of the remaining 50% interest and becoming the designated operator before the end of the fourth quarter of 2015.

The company expects the costs of drilling, completion and equipment for these wells to average between $4,500,000 and $5,000,000, all of which would be funded by the company assuming it acquires the remaining 50% working interest.