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Strategic Oil and Gas Details 2017 Drilling Program
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Strategic Oil & Gas Ltd. has announced its recent well results, capital budget for the first half of 2017 and provides a financing update.
2017 Budget Capital budget of $30 million for H1 2017 Capital will be directed primarily to drill 6 Muskeg wells at Marlowe adjacent to the wells drilled during 2016. The capital budget also includes building road and pipeline to tie-in the 14-35 Muskeg well. Anticipated production exiting the first half of 2017 is 4,000 boe/d. Muskeg Well TestStrategic tested a third successful Muskeg well 14-12 at an average rate of 810 boe/d (59% oil) over a 4 day production period.
On November 1, 2016 the company announced results from the Muskeg well 2-13 which tested 1,057 boe/d (54% oil) over 7 days.
Both new wells have been tied in, equipped with artificial…
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