Welcome!

News Feed Item

Rock Energy Inc. Announces 2013 Results, Increases Capital Spending and Guidance for 2014, and Updates First Quarter Operations

CALGARY, ALBERTA -- (Marketwired) -- 03/21/14 -- Rock Energy Inc. (TSX: RE) ("Rock" or the "Company") is pleased to report its financial and operating results for the year and three months ended December 31, 2013.

Rock has filed its Annual Information Form (AIF), which includes Rock's reserves data and other oil and natural gas information for the year ended December 31, 2013. The AIF includes annual disclosure regarding reserves data and other oil and gas information as mandated by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators. Copies of Rock's audited financial statements and related management's discussion and analysis and AIF for the year ended December 31, 2013 have been filed on the SEDAR website at www.sedar.com and may be obtained on Rock's website at www.rockenergy.ca.

Rock is a Calgary-based crude oil exploration, development and production company.

CORPORATE SUMMARY


FINANCIAL
----------------------------------------------------------------------------
Year Ended December 31,                                   2013         2012
----------------------------------------------------------------------------
Crude oil and natural gas revenue ($000)           $    81,717  $    46,567

Funds from operations ($000) (1)                   $    30,571  $    13,592
  Per share
    - basic                                        $      0.78  $      0.35
    - diluted                                      $      0.76  $      0.35

Net loss ($000)                                    $    (1,806) $   (12,210)
  Per share
    - basic                                        $     (0.05) $     (0.31)
    - diluted                                      $     (0.05) $     (0.31)

Capital expenditures (divestitures), net ($000)    $    46,726  $   (14,337)

----------------------------------------------------------------------------
As at December 31,                                        2013         2012
----------------------------------------------------------------------------

Net debt (2) ($000)                                $    18,135  $     3,072

Common shares outstanding (000)                     39,423,913   39,101,582
Options outstanding (000)                            3,123,106    2,738,437

----------------------------------------------------------------------------

OPERATIONS
----------------------------------------------------------------------------
Year ended December 31,                                   2013         2012
----------------------------------------------------------------------------
Average daily production
  Crude oil and natural gas liquids (bbls/d)             3,195        1,836
  Natural gas (mcf/d)                                    2,183        3,246
  Total (boe/d)                                          3,559        2,377

Average product prices
  Crude oil and natural gas liquids (Cdn$/bbl)     $     68.03  $     64.81
  Natural gas (Cdn$/mcf)                           $      3.45  $      2.54
  Combined average (Cdn$/boe)                      $     62.91  $     53.53

Field netback (Cdn$/boe) (1)                       $     27.37  $     18.33
----------------------------------------------------------------------------
(1)  Funds from operations, funds from operations per share and field
     netback are not terms prescribed by International Financial Reporting
     Standards (IFRS), and so are considered non-GAAP measures. Funds from
     operations represents cash generated from operating activities before
     changes in non-cash working capital and decommissioning expenditures.
     Rock considers funds from operations a key measure as it demonstrates
     the Company's ability to generate the cash necessary to fund future
     growth through capital investment. Funds from operations per share is
     calculated using the same share basis which is used in the
     determination of net income (loss) per share. Field netback is
     calculated as crude oil and natural gas revenues after deducting
     royalties, operating costs and transportation costs, resulting in an
     approximation of initial cash margin in the field on crude oil and
     natural gas production. Rock's use of these non-GAAP measurements may
     not be comparable with the calculation of similar measures for other
     companies.
(2)  Net debt excludes commodity price contracts.

LETTER TO THE SHAREHOLDERS

Introduction

The last year has been a remarkable year of transformation for Rock. Our total corporate production grew from approximately 3,200 boepd in the first quarter of last year to currently exceeding 4,800 boepd, an increase of 50%.

During 2013, our operational focus started with the development of a strong production base at Mantario through the drilling of 27 (27.0 net) wells and the delineation of the pool. We then moved to design the water/chemical flood to maximize the recovery factor and arrest declines. In the meantime, the company was successful in discovering a new extension to the Viking light oil play at Onward. The activity in these core areas dominated our spending for the year and produced not only a significant increase in production, but an increase in operating cash flow as we grew production of higher netback, low cost oil.

While we were focusing our growth in Mantario and Onward, we were also able to divest of our heritage heavy oil assets in the Lloydminster area. We have spent a limited amount of capital here in the past few years, and have decided to sell these high operating cost properties so that we can re-deploy the proceeds into our development plans at Mantario and Onward. In 2013, our average cash flow netback was approximately $24/boe; in 2014 with the new production mix yielding higher prices and lower operating costs, we are forecasting an average cash flow net back of over $35/boe.

Rock has made a strategic shift in focus during the last year to assets that have higher product prices and lower operating costs yielding higher netbacks. However, we also remained focused on developing a suite of assets with the highest possible recovery factors so that we can achieve the lowest possible decline rates to provide a sustainable foundation of production and cash flow.

Rock's 2013 Operating Accomplishments

During 2013, the Company expanded its total proved reserves by 17% to 6.8 million boe from 5.8 million boe at year-end 2012. Our total proved plus probable reserves at year-end 2013 increased 22% to 10.9 million boe from 8.9 million boe at the end of 2012. The proved plus probable reserve additions replaced 254% of production during the year. In 2013, Rock delivered average daily production of 3,559 boepd, and during the fourth quarter production averaged 4,023 boepd. Currently, the Company is producing over 4,800 boe per day with a 95% oil weighting.

Rock spent a total of $23.0 million at Mantario in 2013 ($21.9 million drilling, $1.1 million land and seismic). The Company drilled a total of 22 (22.0 net) vertical step-out oil wells, and 2 (2.0 net) horizontal infill producers into the main pool. This development drilling was able to expand the size of the pool; however, the Company believes it may extend further to the south east. In addition to the oil wells, Rock also drilled 2 dry and abandoned exploration wells in Mantario, and 1 water source/service well (for the planned water/chemical flood). The exploration wells were testing new leads, but with refinement to our seismic/geological model we have identified another 4 - 8 exploration leads in the area. These new exploration leads and the pool extension will be tested in the next 12 months. Mantario at year end had 36 producing oil wells yielding over 3,000 bopd and is currently producing over 3,300 bopd from 40 wells.

At Onward, we continued to advance the development of our water flood in the Mannville (Lloydminster) Formation by acquiring interests in offset lands from competitors and crown land sales, and drilling two net oil wells. Production from the water flood project is currently 325 bopd. In the fourth quarter we drilled 2 (2.0 net) additional Mannville exploration wells in the area, of which one was dry and abandoned, and one which discovered a new Lloydminster pool near our existing facilities. The new discovery well is currently producing over 100 bopd and the company plans to follow up this discovery with 4 - 6 drilling locations in the second half of 2014. During the year Rock invested $7.6 million at Onward developing the Mannville Formation.

In addition to the Mannville development at Onward, during 2013 Rock discovered and began to develop a Viking light oil resource play by investing $14.0 million ($1.7 million land, $12.3 million drilling and completions). The original play concept was tested by recompleting three vertical wells on our existing land base to determine if the Viking Formation was oil charged on our lands. With these successful tests, Rock assembled over 38 net sections of land over the area that we believed to be prospective. By September we were in a position to drill our first 2 (2.0 net) horizontal wells. These wells were successful, producing at average (IP 30) rates of 40 bopd. Rock then proceeded to drill another 8 (8.0 net) wells before the end of the year. The next set of wells came on at average rates (IP 30) of approximately 50 bopd. Of the 10 (10.0 net) wells drilled into the Viking play only 7 were completed by year-end. Production from the Viking at year end was less than 200 bopd, however, the Viking is currently producing approximately 450 bopd (from 14 of 18 wells drilled to date).

2013 Drilling Results

For the year ended December 31, 2013, the Company drilled a total of 46 (45.0 net) wells made up of 10 (10.0 net) Viking light oil wells, 31 (30.0 net) heavy oil wells, 1 (1.0 net) service well and 4 (4.0 net) dry and abandoned wells, for an overall net casing success rate of 91%.

Reserves

Rock's total Company proved plus probable reserves increased by 22% year-over-year to 10.9 million boe at year-end 2013 (from 8.9 million boe at year end 2012) generating an RLI of 7.4 years (using 2013 fourth quarter average production rates). All-in finding, development and acquisition costs (including changes in future development capital and revisions) averaged $31.42 per proved plus probable boe, and $32.75 per total proved boe.

At Mantario, the Company anticipates that the eventual finding costs will trend lower as the additional resource potential for the main Rex pool related to successful secondary (water flood) and tertiary (chemical flood) oil recovery should be recognized as reserves over time, with limited (if any) additional future development capital.

At Onward, the year-end reserves report assigns reserves and value to less than 10% of the potential that the Company has identified.

Further information respecting Rock's year-end reserves is contained in its AIF, which has been filed on the SEDAR website at www.sedar.com and may also be obtained on Rock's website at www.rockenergy.ca.

Financial Results

Rock generated funds from operations of $30.6 million ($0.78 per basic share, 0.76 per fully diluted share) in 2013, compared to $13.6 million ($0.35 per basic share) in 2012. For the fourth quarter of 2013, the Company generated funds from operations of $9.4 million ($0.24 per basic share) compared to $11.5 million ($0.29 per basic share) in the third quarter of 2013. Funds from operations for the fourth quarter were adversely impacted by increased price differentials (WTI vs. Western Canada Select). Realized prices averaged $59.87/boe during the quarter compared to $62.91/boe during the year. Operating costs continue to trend downward as lower cost production from Mantario continued to grow (averaging $19.33 per boe in 2013 compared to $24.21 per boe in 2012).

The Company had a net loss of $1.8 million ($0.05 per basic and fully diluted share) in 2013 compared to a net loss of $12.2 million ($0.31 per basic share) in 2012. Rock incurred net capital expenditures of $46.7 million in 2013 of which $23.0 million was focused on Mantario, and $14.0 million was spent on the emerging Viking play at Onward. Total year-end net debt was $18.1 million against available bank lines of $45.0 million resulting in a debt to fourth quarter annualized cash flow ratio of 0.5. The Company recently received an increase to its combined credit facility to $70.0 million from its lending institution.

2014 Area Activity Update

To date in 2014, Rock has drilled 14 (14.0 net) oil wells with 100% casing success including 4 (4.0 net) Mantario vertical step out locations in the main pool, 8 (8.0 net) horizontal Viking oil wells at Onward and 2 (2.0 net) successful Mannville oil wells (Onward, Neilburg).

Mantario

The 4 vertical step out locations drilled in the first quarter have confirmed that the main pool continues to the south east with pay thicknesses ranging from 4 - 6 meters. Rock is now planning to drill an additional 6 vertical wells (on 40 acre spacing) to continue to extend the eastern limit of the main pool plus 9 horizontal infill locations. Production from the pool is currently averaging approximately 3,300 bopd from 40 producing wells including the contribution from the two horizontal wells (175 - 200 bopd each). Subsequent to year end, Rock was able to acquire the working interest in the lands from one of the offset owners on the West side of our main pool at Mantario for $3.9 million.

Rock is proceeding with the implementation of a water/chemical flood at Mantario to arrest the decline and maximize the recovery factor of this pool. The Company has completed the application with Saskatchewan Government and expects to receive the preferred royalty treatment applicable to Enhanced Oil Recovery ("EOR") projects. This royalty program allows the Company to recover the capital costs incurred to implement the EOR project (chemical/polymer flood) through a reduction in royalties. Rock expects to receive further clarification from the Government in the coming weeks, but it is anticipated that we will receive a royalty credit of approximately $20 - $30 million over the next 2 - 3 years (starting in 2015). The engineering and design work for this project is completed and we expect to commence water injection into the reservoir for pressure maintenance by the end of the third quarter of this year.

Onward Viking

During the first quarter of 2014, the Company drilled an additional 8 (8.0 net) horizontal oil wells in to the Viking Formation at Onward. Production rates (IP30) for these wells continue to average approximately 50 bopd and total production from the Viking net to Rock is approximately 450 bopd from 14 of the 18 wells drilled to date. With a total of 18 (18.0 net) wells drilled in to the play, Rock believes the Company has successfully demonstrated an economically viable light oil Viking resource play on 15.5 sections. Under full development at 16 wells per section this would generate 230 remaining development drilling locations. In light of this success, the Board of Directors have approved an expansion to Rock's capital program for 2014 to allow for the continued development of this Viking play. Rock expects to drill an additional 17 wells by the end of the year to more fully evaluate the lands in this area.

Onward Mannville

During the fourth quarter of 2013, Rock drilled a discovery well at 11-16-34-24W3 into a new Lloydminster pool (West Onward). This discovery well has been producing at rates exceeding 100 bopd for the last two months. With this success we have mapped a potential new pool that indicates potentially 10 - 15 development locations, and we plan to drill the first 4 follow up wells in third quarter of this year.

Asset Rationalization

During the first quarter of 2014, Rock completed the acquisition of 130 bopd from one of the offset owners on the West side of our main pool at Mantario for $3.9 million. This transaction was closed on February 20, 2014 with an effective date of February 1, 2014.

In addition to the Mantario acquisition, Rock has agreed to the sale of substantially all of its heritage heavy oil assets in the Lloydminster region (Alberta and Saskatchewan). With the successful completion of the transaction, the Company will have divested of 450 bopd of heavy oil, including the associated infrastructure and related abandonment liabilities, for $7.0 million effective February 1, 2014 to a private oil and gas Company. The transaction is anticipated to close by March 31, 2014.

These transactions are significant steps in the transformation of Rock into a higher net back, lower operating cost producer.

Commodity Prices

During November and December of 2013, the Company experienced a widening of heavy oil differentials as refinery start-up delays and pipeline bottlenecks persisted. Today the differential has narrowed considerably and is expected to narrow further as the BP Whiting refinery ramps up the consumption of heavy crude oil (160,000 bopd growing to 350,000 bopd in the next few months). It is our view that these increases in refinery demand coupled with additional pipeline projects (such as the recently announced Enbridge Line 9 reversal) will continue to act to reduce the discount Canadian crude receives from world prices. In addition to the crude oil pricing we are also benefiting from a lower Canadian dollar exchange rate. For every $0.01 change in exchange rate, the Company's cash flow changes by approximately $1 million for the year. For the remainder of 2014, Rock is assuming that WTI averages $90.00 US/bbl, WTI - WCS differential averages $20.00 US/bbl, AECO gas price averages $3.50CDN/mcf and the exchange rate averages $0.92 CDN/US.

In order to minimize risk due to price fluctuations, Rock is actively hedging a portion of our production. We currently have between 1,250 and 1,500 bbls/d hedged quarterly at average WCS $81.42CDN/bbl until September 30, 2014. We also transport up to 1,500 bbls per day by rail. Rock has been shipping its heavy oil by rail for over two years in order to bypass pipeline bottlenecks and achieve premium pricing.

Outlook and 2014 Guidance

The strong performance from the first quarter's activities has prompted the Company to expand its capital program to $85 million (from $62 million) and revise its guidance for the year. The additional capital is largely focused on continued drilling and de-risking of the Viking play at Onward, coupled with an acceleration of the Mantario polymer flood, and the development of the Onward West Lloydminster pool.

Rock's 2014 capital budget of $85 million is expected to provide 29% growth in average daily oil production from 2013 (including the effect of the asset rationalization activity). During the year the Company plans to drill up to 61 wells with 25 horizontal wells to be drilled into the Onward Viking play, 10 vertical wells at Mantario to extend the pool boundaries, 9 horizontal infill wells in Mantario to develop the pool and replace vertical wells being converted to injectors, 8 Mannville development wells and 9 exploration wells.

The Company is forecasting this activity to generate average production of 4,500 - 4,700 boped (95% oil). Given the price assumptions mentioned above and an average operating cost of $16.50/boe the Company is forecasting cash flow of $59 - $61 million ($1.50 - $1.55/share). With this cash flow and capital spending plan, the debt at the end of the year is forecasted to be $43 - $45 million (0.7 times forecasted fourth quarter cash flow annualized) against its combined credit facility of $70 million.

As Rock approaches the second quarter of 2014, the Company is excited about the team we have assembled, the assets we have discovered and developed, and the prospects that will allow us to continue to develop a significant growth profile. We are focused on building a suite of assets that will continue to provide our shareholders with a solid, long-life, predictable base of sustainable cash flow.

Advisory Regarding Forward-Looking Information and Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. More particularly and without limitation, this press release contains forward looking statements and information concerning: 2012 average production; anticipated production rates from the Onward waterflood program; and Rock's drilling plans on its crude oil properties.

Statements relating to "reserves" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described can be profitably produced in the future.

The forward-looking statements and information in this press release are based on certain key expectations and assumptions made by Rock, including prevailing commodity prices and exchange rates; applicable royalty rates and tax laws; future well production rates; reserve and resource volumes; the performance of existing wells; the success obtained in drilling new wells; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; and the receipt, in a timely manner, of regulatory and other required approvals. Although Rock believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Rock can give no assurance that they will prove to be correct. There is no certainty that Rock will achieve commercially viable production from its undeveloped lands and prospects.

Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and natural gas industry in general, such as: operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to reserves, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation of petroleum and natural gas and loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; stock market volatility; and changes in legislation, including but not limited to tax laws, royalty rates and environmental regulations.

Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the operations or financial results of Rock are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). The forward-looking statements and information contained in this press release are made as of the date hereof and Rock undertakes no obligation to update publicly or revise any forward- looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

For further information please visit Rock's website at www.rockenergy.ca.

Contacts:
Rock Energy Inc.
Allen J. Bey
President and Chief Executive Officer
403.218.4380

Rock Energy Inc.
Todd Hirtle
Vice President Finance and Chief Financial Officer
403.218.4380
www.rockenergy.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...