Exploration & Production | Drilling / Well Results | Deals - Joint Ventures
Viking, Tanager Reactivating Wells at Joffre Project
Print
|
Viking Investments Group Inc. has reported an update on its Joffre Project.
The Joffre Project, in which Viking has a 50% working interest, is located in Red Deer, Alberta and consists of 4 previously suspended oil wells and 1 suspended water injection well. As previously announced, Viking and Tanager Energy Inc., joint venture operator of the Joffre Project, intend to mobilize and reactivate each well sequentially.
The first well in the project was placed on production on April 1st, 2015. After 5 days of anticipated monitoring and operating facility adjustments, the well produced at a rate of 118barrels of oil per day and 250 mcf of natural gas, totaling 160 BOE/D, without a pump jack. To preserve the longevity of the well and sustain consistent production over an extended period Tanager and Viking stopped production in order to install a pump jack on the well which is expected to be completed before the end of June, 2015.
Upon completion of the recently announced financing, Viking and Tanager intend to proceed with the work necessary to reactivate the second of the remaining oil wells in the Joffre project. The second well is expected to be on production in August, 2015. Other wells will be mobilized and reactivated sequentially.
More Deals - Joint Ventures News
Schlumberger, Aker Solutions Ink Subsea-Focused JV
Schlumberger, Aker Solutions and Subsea 7 announced an agreement to form a joint venture focused on subsea optimization. The proposed joint venture will combine Schlumberger’s and Aker Solutions’…
California Resources Second Quarter 2022 Results
California Resources Corp. reported second quarter 2022 operational and financial results. The company also announced the formation of a joint venture with Brookfield Renewable, creating a carbon management…
Equinor to Exit Russian JVs, Halt New Investments in Country
Equinor's Board of Directors has decided to stop new investments into Russia, and to start the process of exiting Equinor’s Russian Joint Ventures. Anders Opedal, President and CEO…
Talos, Storegga Partner for Carbon Capture Storage Project in GOM
Talos Energy Inc. has formed an exclusive joint venture with Storegga Geotechnologies Ltd. to source, evaluate and develop carbon capture and storage (CCS) project. The JV will evaluate…
ExxonMobil, Petronas Tout Discovery Offshore Suriname
ExxonMobil and PETRONAS have discovered hydrocarbons at the Sloanea-1 exploration well on Block 52 offshore Suriname. The well was drilled by operator PETRONAS to a total depth of…
Canada News
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Canadan E&P 2026 Program Calls for 448 Net Wells, Up 24% vs. 2025 Plan
Canadian Natural Resources outlined a 2026 operating capital budget of approximately $6.3 billion (total capital budget $6,425 million, including $125 million for carbon capture) targeting 1,590–1,650 MBOE/d of…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…
ARC Resources: Lower 2026 Capex, Higher Volumes
ARC Resources used its third quarter update to reinforce a familiar message to Canadian E&P executives: disciplined capital, structurally better market access, and a growing shareholder return program…