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Bengal's Cuisinier Well Stimulation Ops 'Exceed Expectations'
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Bengal Energy Ltd. reported its financial and operating results for the third quarter of fiscal 2016 ended December 31, 2015.
Chayan Chakrabarty, President and CEO of Bengal, said: "Bengal, like many of our peers, faced a challenging oil price environment during the third quarter. However despite the low price, we realized solid netbacks of approximately CDN $28 per bbl, when factoring in the contributions from our hedging program. Although early days, we are also very encouraged by our recently announced five well hydraulic stimulation program at Cuisinier. The demonstrated success of this program provides an excellent foundation for future low risk and low cost production additions and will help position Bengal to manage through this volatile commodity price environment."
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