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Arsenal Increases Budget after Success at Princess
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Arsenal Energy Inc. has released its 2014 Q2 financial and operational results.
OperationsSo far in 2014, Arsenal has participated in operations on 10 (3.1 net) Bakken/ThreeForks horizontal wells in North Dakota. Three of those (1.8 net) were fracked and placed on production at the end of the second quarter. Results of those wells were previously released. It is anticipated that the remaining seven wells (1.3 net) will be completed and placed on production by the end of the third quarter. Bakken wells typically produce at an average rate of 630 boe/d for the first month and 260 boe/d for the first year.
At Princess, Alberta, commencing in the second quarter and continuing into the third quarter Arsenal drilled a four (4 net) well program targeting Lower Mannville channels. Three wells…
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