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Strategic Oil and Gas Looks for More Capital at Muskeg
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Strategic Oil & Gas Ltd. has reported financial and operating results for the three months ended March 31, 2015.
Summary Capital expenditures of $7.5 million for the first quarter of 2015 were directed primarily towards drilling and completion operations for one Muskeg horizontal well at Marlowe, as well as completing another well drilled in December 2014. In addition, two pads at North Marlowe were fully equipped for 4 wells in preparation for future drilling on these sites. Strategic elected to stop the winter Muskeg drilling program in January in order to preserve capital in light of depressed commodity prices. Average daily production totaled 3,267 boe/d for the three months ended March 31, 2015 compared to 3,925 boe/d for the fourth quarter of 2014 due to the shut-in of 700 boe/d…- ✓ Full news archive — U.S., Canada & international coverage
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