Exploration & Production | Quarterly / Earnings Reports | Drilling Program
Anderson Sees 'Superior' Cardium Results in Q4; Credits Slick Water Fracs
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Anderson Energy Ltd. has reported its operating and financial results for the fourth quarter and year ended December 31, 2012.
Highlights: The Company completed its Cardium horizontal light oil winter drilling program using slick water frac technology. Initial production results were vastly superior to previously used fracture stimulation techniques. The average initial production rate over the first 30 days for the seven wells that used this technology was 455 BOED. With the completion of the Company's winter drilling program, all of its drilling commitments have been fulfilled. Anderson closed all of the previously announced property dispositions prior to year end. Approximately $74 million in properties were sold during 2012. Bank debt was reduced significantly to $48.1 million at…- ✓ Full news archive — U.S., Canada & international coverage
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