Vital Energy Inc (VUX)

[JonnyRBuck12]

Vital Energy's Lampman wells produce 630 bopd

2021-10-05 16:52 ET - News Release

Mr. Yingchuan Wu reports

VITAL ENERGY INC. LAMPMAN NEW DRILL RESULTS A UPDATE

Vital Energy Inc. successfully drilled and completed three horizontal wells in Q3 2021 in Lampman, southwest Saskatchewan, on a multiwell pad (01-04-006-05W2). The completed formation is in the Frobisher zone.

From Aug. 29 to now, the three horizontal wells' (HZ C7-4, HZ C8-4 and HZ D8-4) total average daily oil production has stabilized at approximately 630 barrels per day. The average water cut (BS&W) is approximately 13 per cent, and the oil's API is 32.5 (sweet light oil).

The three wells are pipelined to an adjacent third party oil battery. All three pump jack wells include equipment with electric motors with electric power supplied by the SaskPower grid in the area. As a result, lower maintenance costs are anticipated which should significantly improve field netbacks.

Vital is the operator of the three wells in the Lampman area and maintains a 100-per-cent working interest.

Vital Energy is a publicly traded junior oil and gas company, the primary focus of which is developing light and medium crude oil production in Western Canada.

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