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Strategic Delineates Marlowe Asset in 1Q; More Drilling Planned
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Strategic Oil & Gas Ltd. reports financial and operating results for the three months ended March 31, 2016.
Key Points: Strategic was active in the first quarter of 2016, drilling 4 appraisal wells which significantly enhanced the Company's understanding of the Marlowe asset bas - Drilled 4 wells that delineated the Muskeg play up to 20 km away from current producing wells. The Company is in the planning stages for the next phase of development at Marlowe, which will be a capital spending program of approximately $15-20 million to drill, complete and tie-in up to 4 Muskeg horizontal wells in the second half of 2016. Strategic's highlights for the first quarter include: Drilled 4 wells that delineated the Muskeg play up to 20 km away from current producing wells. Operating costs dropped…- ✓ Full news archive — U.S., Canada & international coverage
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