Home > Boards > Canadian > Oil/Gas/Natural Energy Production > KFG Resources Ltd. (TSXV:KFG)

KFG Resources talks oil production in Jefferson county

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
JonnyRBuck12 Member Profile
 
Followed By 4
Posts 1,002
Boards Moderated 4
Alias Born 09/28/08
160x600 placeholder
JonnyRBuck12   Thursday, 06/27/19 07:19:38 PM
Re: None
Post # of 103 
KFG Resources talks oil production in Jefferson county

2019-06-27 13:25 MT - News Release


Mr. Robert Kadane reports

KFG RESOURCES LTD. OPERATIONS UPDATE

KFG Resources Ltd. has noted a rework in Jefferson county, Mississippi. The Spring Hill No. 1 well was put back on production for 10 to 15 barrels of oil per day. KFG owns a 67.5-per-cent net revenue interest (NRI). In addition, the No. 4 Barnum well (KFG owns a 16.9-per-cent NRI) is scheduled to be reperforated in July in an attempt to increase production.

In Saskatchwan, Canada, at West Hazel, production on the fourth well has been restored. KFG has an 11.25-per-cent working interest in the acreage. The wells produce heavy oil and can take two to three months for daily steady production numbers to occur. Approximately 4,800 to 5,000 barrels of fluid a day is being produced with oil representing 1.5 per cent to 2 per cent, or 80 to 100 barrels of oil per day. As production stabilizes the oil cut percentage should increase resulting in more saleable oil. Current production is covering all operating and asset costs.

© 2019 Canjex Publishing Ltd. All rights reserved.

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist