Exploration & Production | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program
Zargon Reduces Capex, Lowers Conventional Spending
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Zargon Oil & Gas Ltd. has provided a Little Bow Alkaline Surfactant Polymer (ASP) tertiary oil recovery project update, revises 2015 capital budget and updates the 2015 production guidance. Zargon intends to release its Q1 2015 financial results on May 13, 2015, after market close.
Little Bow ASP Project Update:In March 2014, Zargon commenced injection of large volumes of dilute chemical solution into the partially depleted Little Bow Mannville I pool to recover substantial incremental oil reserves. To date, 3.9 million barrels of ASP solution has been injected into the first phase of the project. This injection volume is equal to about 12 percent of the targeted reservoir pore volume, and represents 17 percent of the total chemical bank (ASP and polymer only) scheduled to be injected in…
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