Exploration & Production
Strong Natural Gas Outlook Brings Wells Back Online for Pacific Oil
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Pacific Oil Company has announced that it intends to reactivate 17 natural gas wells to take advantage of higher natural gas prices.
The wells targeted for reactivation are part of Pacific Oil's 27 well 9600 acre Lacadena Project located near the town of Shackleton within the province of Saskatchewan.
Ed Loven, Vice president of Pacific Oil, said: "With Natural Gas prices over $5 now is the time for Pacific Oil to capitalize on our meaningful natural gas footprint within the province of Saskatchewan. With its 27 wells situated on 9600 energy rich acres, the Lacadena Project is a significant part of Pacific's revenue strategy moving forward and we are now on the path to realizing the projects full potential. Our goal is to act swiftly in bringing these wells back online so that they may have an immediate impact on our bottom line."
With these reactivations Pacific Oil Company is following the lead of other major energy producers in the area as the outlook for natural gas continues to be strong. Pacific will update the public with information regarding these reactivations as plans materialize on the ground and milestones in the process are met.
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