Operational Updates | Quarterly / Earnings Reports
Lone Pine Talks Q1 Well Progress; Ups Borrowing Base
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Lone Pine Resources Inc. has reported an operational update from the Company's first quarter of 2013 activities and the completion of the semi-annual redetermination of the Company's borrowing base and other amendments to the agreement governing its credit facility.
First Quarter 2013 Operational UpdateIn the first quarter of 2013, Lone Pine drilled 8 gross (6.8 net) wells, completed 9 gross (7.3 net) wells and brought onstream 9 gross (7.3 net) wells, all of which were located in the Evi area, with a 100% success rate. Drilling activity at Evi in the quarter primarily focused on infill wells located in the central area of the play where the Company could take advantage of the available cost efficiencies of pad drilling, batch completions and proximity to existing flowlined…
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