Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2020
Saturn to Drill Four Viking Wells in Q1; Exceeds 2019 Production Goals
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Saturn Oil & Gas Inc. detailed its production rate exiting 2019 as well as its upcoming Q1 2020 drilling program.
Q1 2020 Drilling Program OutlookSaturn has detailed its Q1 2020 drilling program, which will include the completion of four (4.0 net) ERH Viking light oil wells. The Q1 program is budgeted at approximately $4.0 million and is expected to be fully funded with cash flow.
The Company anticipates the four well drilling program to commence in early-February, with all wells anticipated to be completed and brought on production by early March.
Q4 SummaryDuring the last half of December, Saturn brought on production four (4.0 net) extended-reach horizontal (ERH) Viking light oil wells.
Saturn exited the year with production over 1,200 bbls/d, exceeding its previous 1,000 bbls/d…
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