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Arsenal Stops Drilling in 1Q; Plans to Market U.S. Bakken Assets
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Arsenal Energy Inc. has reported its first quarter 2016 results.
Key Points: Average production of 3,058 boe/d during the first quarter of 2016 declined when compared to 4,071 in the first quarter of 2015. The Company did not participate in the drilling of any wells in Q1 2016. Spending was targeted on facility work at Princess, Alberta and on non-operated wells in North Dakota. Arsenal has engaged a US based property broker to market all of the Company's US assets. That process is ongoing. Arsenal's U.S. Assets:North Dakota - Montrail, Williams and Burke counties
Three prospect areas prospective for the Bakken / Three Forks and Midale plays:
Stanley - Development Lindahl - Development Rennie Lake / Black Slough - Exploratory OperationsAverage production of 3,058 boe/d during…
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