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Strategic Devotes CapEx to Muskeg, Steen River; Details 2013 Results
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Strategic Oil & Gas Ltd. has reported financial and operating results for the fourth quarter and year ended December 31, 2013, announces the closing of the second tranche of the previously announced $50 million private placement and provides results on the Muskeg Stack horizontal wells drilled in the first quarter of 2014.
Additionally, the company has outlined its 2014 spending plans.
Fourth Quarter Summary: Production increased by 565 Boed or 25 percent from 2,282 Boed (92 percent oil) for the three months ended December 31, 2012 to 2,847 Boed (66 percent oil). Production volumes for the current quarter were impacted by 26 days of total downtime at Steen River, related to the 9-17 oil facility expansion and turnaround. The expansion was necessary to accommodate future growth in the…- ✓ Full news archive — U.S., Canada & international coverage
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