Exploration & Production | Drilling & Completions
Madalena Plans Unconventional Canadian, Neuquen Basin Ops
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Madalena Ventures Inc. has reported the following operational update on its unconventional Canadian and Neuquen Basin activities.
Canadian Operations Update - Greater Paddle River Core Area:Madalena has moved two drilling rigs into its core area of operations located in the Greater Paddle River Area of Central Alberta, where the company holds a significant acreage position of 197 gross (153 net) sections of land (78% average working interest and largely operated by Madalena) across multiple light oil and liquids-rich gas resource plays. Madalena's focus domestically is to exploit its large inventory of horizontal development locations with the expectation to increase production and cash flow year over year.
The plan between now and spring break-up is to drill, multi-stage frac, equip…
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