Exploration & Production | Capital Markets | Capital Expenditure
Strategic Oil & Gas Talks Budget for 1H16
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Strategic Oil & Gas Ltd. announces its first half 2016 capital budget and provides an operations and financing update.
BudgetStrategic's Board of Directors has approved a capital budget of $11 million for the first half of 2016. Capital will be directed towards drilling four wells to preserve undeveloped lands, increase reserves and further delineate the Muskeg play at Marlowe. The four wells are comprised of two horizontal exploration wells and two vertical wells. Core data from vertical wells in the Muskeg zone will further confirm the geo-technical attributes of the reservoir. Strategic is well positioned to execute on this program while delivering significant cost savings, which are expected to be repeatable.
Operations & Cost EfficienciesStrategic has maintained production at 2,100…
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