Exploration & Production | Operational Updates
Equal Energy Provides Operational Update on Mississippi Lime
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Mississippian Oil Venture
We announced on April 4th the terms under which Equal sold 50% of its working interest in Mississippian undeveloped lands in Oklahoma to Atlas Energy Partners LP. This deal was closed on April 26th with proceeds to Equal of US$18 million. As part of this transaction Equal has agreed with Atlas to jointly develop this acreage with Atlas operating the drilling and completion phases and Equal operating the production. The venture intends to drill a minimum of six horizontal wells for the balance of 2012 starting in late Q2 or early Q3. The immediate realization of these proceeds and the securing of a quality joint venture partner underpin strong future value growth for Equal.
Successful Drilling Programs
In Q1 Equal drilled six successful wells. Four…
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