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Strategic Oil and Gas Considers Financing Alternatives
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Strategic Oil & Gas Ltd. has reported financial and operating results for the three months ended September 30, 2015.
Highlights Strategic has continued to identify operational efficiencies and exercise capital discipline in this low commodity price environment. WTI oil prices for the current quarter decreased 52% compared to the same period in 2014, resulting in a 47% decrease in average sale prices. Capital expenditures of $1.4 million for the third quarter of 2015 reflected a 94% decrease from the third quarter of 2014. Average daily production totaled 2,113 boe/d for the three months ended September 30, 2015 compared to 2,480 boe/d for the second quarter of 2015 as 250 boe/d of Muskeg production was offline due to a pump upgrade required on Muskeg well 13-31 and a temporary regulatory…- ✓ Full news archive — U.S., Canada & international coverage
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