Exploration & Production
Surge Energy To Drill Five Bakken Wells in Second Quarter 2012
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Williston Basin (Spearfish), Manitoba and North Dakota:
At Waskada, Surge has a total of 21 gross (21 net) horizontal multi-frac Spearfish oil wells producing to the Company's recently constructed battery. All 21 wells were drilled, completed and on production prior to the second quarter of 2012.
As a result of this new battery, operating costs at Waskada have decreased by 45 percent to $12.00 per barrel, which is in line with the Company's original budget expectations. Surge also recently entered into a clean oil delivery and pipeline agreement with a nearby operator, which will result in further savings on transportation costs and increase delivery reliability.
Surge continues to make progress on the Waskada Unit 15 waterflood pilot. The Company submitted the Waskada Unit 15…
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