Exploration & Production | Finance & Investing | Drilling / Well Results | Capital Markets
Terrace Touts MissLime, Olmos Activity; Updates Ops
Print
|
Terrace Energy Corp. has reported its financial and operating results for the third quarter ended October 31, 2012.
Third Quarter Achievements The Company completed and placed into production, on or about October 17, 2012, two new prospective wells (SP5 #1 and SP5 #2) on its STS Olmos project. The Company's share of oil and gas sales from these wells for the 14 days ended October 31, 2012 was approximately US$225,000. The successful completion of these wells confirmed that the Olmos formation extends over 5 miles from the initial discovery well (STS 1-667). The Company has a 33% working interest and 25% net revenue interest in the two new wells. The Company successfully developed a pipeline of new prospective oil and gas projects. The Company's technical team completed initial due…Finish this article — free account or subscription
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
No credit card. Includes 15 days of full access to permits, deals, completions and presentations.
Already a subscriber? Log in