Exploration & Production | Operational Updates | Quarterly / Earnings Reports | First Quarter (1Q) Update
Lightstream Drills 50 New Wells for 1Q 2014
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Lightstream Resources Ltd. has provided an update on our operations and announce an agreement to sell our southeast Saskatchewan Conventional business unit royalty interest package for gross proceeds of $141 million.
Operational UpdateConsistent with our investment profile in 2013, the first quarter of 2014 is projected to be our most active capital quarter for the year. In the first quarter of 2014 we drilled 50 wells, or approximately 55% of our annual program, with the Cardium continuing to be our busiest area. During the quarter we brought 25 wells on production and at March 31, 2014, we had 32 wells in inventory waiting to be brought on-stream. While some completion activities have continued into April, our current focus is on equipping and tie-in activity to get this inventory of…
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