Tuesday, December 19, 2017 10:55:32 AM
Saturn Oil drills, completes first two Viking wells
2017-12-19 10:39 ET - News Release
Mr. John Jeffrey reports
SATURN OIL & GAS INC. ANNOUNCES INITIAL FLOW RESULTS ON FIRST VIKING WELLS
Saturn Oil & Gas Inc. has successfully drilled, completed and brought on line its first two Viking horizontal wells (101/9-31 and 102/9-31) in the Flaxcombe area.
The 101/9-31 well was drilled to a measured depth of 1,497 meters and completed with 24 stage closable sleeves. All 24 stages were successfully completed and the well was brought on-line on December 8th. Over the first ten days of production, the well cumulatively produced 1,140 bbls of 36degree API light oil. The well continues to flow and pump with flow rates over the last five days in excess of 140 bbls/d of light oil.
The 102/9-31 well was drilled to a measured depth of 1,489 meters and completed with 23 stage closable sleeves. All 23 stages were successfully completed and the well was brought online on December 9th. Over the first nine days of production, the well cumulatively produced 1,135 bbls of 36degree API light oil. The well continues to flow and pump with flow rates over the last five days in excess of 150 bbls/d of light oil.
As of December 19th, the Company is currently producing in excess of 350 bbls/d of oil.
"The drilling and completions of these first Vikings horizontals went well. Although we are in early stages of production on these wells, the initial flows rates have exceeded our expectations. Our technical teams have confirmed on many levels their ability to execute and we are looking forward to additional drilling in Q1/2018," stated Scott Newman, Chief Operating Officer at Saturn.
Further to the Company's news release dated December 4th, Saturn has received TSXV approval of its equity financing to issue 3,412,000 Units at C$0.15 per Unit.
About Saturn Oil & Gas Inc.
Recent SOIL News
- Saturn Oil & Gas Inc. ouvre les marchés • PR Newswire (Canada) • 05/21/2024 02:42:00 PM
- Saturn Oil & Gas Inc. Opens the Market • PR Newswire (Canada) • 05/21/2024 02:39:00 PM
- Saturn Oil & Gas Inc. Opens the Market • PR Newswire (US) • 05/21/2024 02:39:00 PM
- L'Organisme canadien de réglementation des investissements permet la reprise de la négociation - SOIL.R • PR Newswire (Canada) • 05/15/2024 01:13:00 PM
- Canadian Investment Regulatory Organization Trade Resumption - SOIL.R • PR Newswire (Canada) • 05/15/2024 01:10:00 PM
- Suspension de la négociation par l'Organisme canadien de réglementation des investissements - SOIL.R • PR Newswire (Canada) • 05/15/2024 12:16:00 PM
- Canadian Investment Regulatory Organization Trading Halt - SOIL.R • PR Newswire (Canada) • 05/15/2024 12:13:00 PM
- Saturn Oil & Gas Inc. Announces $525 Million Accretive Core-Area Saskatchewan Asset Acquisition, Transformational Debt Recapitalization, $150 Million RBL Commitment and a $100 Million Bought Deal Equity Financing • PR Newswire (Canada) • 05/06/2024 10:54:00 PM
- Saturn Oil & Gas Inc. Announces Fully-Funded 2024 Corporate Guidance Highlighted By $180 Million of Debt Reduction While Maintaining Production and a $50 Million Bought Deal Private Placement Financing Led By Strategic U.S. Institutional Investors • PR Newswire (Canada) • 02/06/2024 12:31:00 PM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM
VPR Brands (VPRB) Reports First Quarter 2024 Financial Results • VPRB • May 17, 2024 8:04 AM
ILUS Provides a First Quarter Filing Update • ILUS • May 16, 2024 11:26 AM