Exploration & Production | Operational Updates | Capital Markets | Capital Expenditure
Strategic O&G Plans 13 Wells for 2014
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Strategic Oil & Gas Ltd. provides an operational update as well as 2014 guidance.
2014 GuidanceStrategic's Board of Directors has approved a capital spending budget of $80 million for 2014 with a focus on Muskeg Stack horizontal wells at Marlowe and related infrastructure. Strategic has completed the 5-33 Muskeg horizontal well which was drilled in 2013 and plans to drill an additional 13 wells in 2014.
Capital spending will be allocated as follows: Drill, complete, equip & tie-ins: $54 million Workovers/recompletions: $4 million Land, seismic, facility expenditures & plant turnarounds: $8 million Bistcho oil pipeline: $14 millionThe scope of the Bistcho pipeline project has been slightly expanded to include two additional sales oil pumps to provide redundancy as well as an additional…
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