Exploration & Production | Drilling / Well Results | Capital Markets | Capital Expenditure
With Low Prices, Arsenal Focused on Expansion
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Arsenal Energy Inc. has released its 2014 Q4 financial and operational results.
Operations Arsenal is diverting most of its 2015 cash flow to exploration activities to take advantage of available deal flow and low costs. The Company anticipates returning to production development mode by Q4 2015 when the forward strip suggests WTI prices will be in the $60.00 per bbl. range. Average production of 4,742 boe/d during the fourth quarter was up 17% when compared to the fourth quarter of 2013. Production was added from four (0.5 net) Bakken wells drilled at Lindahl, North Dakota earlier in the year. Three (0.5 net) additional non-operated wells at Lindahl are expected to be placed on production at the end of the first quarter and drilling has commenced on a new 6 well pad there. Arsenal's…- ✓ Full news archive — U.S., Canada & international coverage
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