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Strategic Oil and Gas Drills First of 6 Muskeg HZ 2014 Wells
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Strategic Oil & Gas Ltd. has announced its first horizontal Muskeg well post spring break-up.
The Muskeg well 11-24 produced at an average test rate of 545 boe/d (77% oil) over the first seven days. Costs to drill and complete the well were $3.9 million, representing a 25% decrease when compared to the Company's average well costs in the play.
Gurpreet Sawhney, Strategic's President and Chief Executive Officer, commented: "We remain focused on proving up the Muskeg at Marlowe. With more than 100 sections with Muskeg potential identified to date, the Company is positioned with a multi-year drilling inventory of more than 400 economic prospects. As with any new resource play, we continue to move along the learning curve identifying opportunities to drive efficiencies, grow returns, and…
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