Armada, Geokinetics Ink Agreement for Niobrara 3-D Survey
by Karen Boman
|Monday, July 09, 2012
Armada Oil and Geokinetics USA have entered an agreement in which Geokinetics will conduct a 3-D seismic survey of Armada's acreage in the Laramie and Hanna Basins in the Niobrara oil play in southern Wyoming.
Geokinetics' survey, which will cover approximately 41.05 square miles, or 26,272 acres, is part of Armada's aggressive growth strategy and "will further illuminate the Niobrara play, allowing exploration for reserves not locatable by other means and providing the necessary data to develop the new discoveries," said Armada Oil Chief Executive Officer James J. Cerna in a statement on Monday.
In May, Armada reported it would begin a 3-D seismic shoot of the area in August of this year.
Armada plans to drill two wells by year-end in the Niobara, said Cerna, noting that the company "is eager to be working in tandem with Geokinetics to record and interpret state-of-the-art information that will enable us to identify high-potential drill targets."
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