Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Edge Resources to Commence Multi-Well Program in Saskatchewan

change text size

Edge Resources Inc. announced that, following from the oversubscribed financing (announced November 18, 2013), it has already secured a drilling rig for a multi-well drilling program in Eye Hill, Saskatchewan. It is planning on drilling a minimum of three wells back-to-back in December 2013.

The planned locations are within a few hundred meters of the existing, vertical well that has far exceeded management's expectations; thus, instilling a very high degree of confidence in the success of this program.

The target locations have been chosen based on the company's intense reinterpretation of previous geological and geophysical models of Edge's, and nearby, reservoirs. Additionally, the company has incorporated its extensive 2D and 3D seismic data and the exceptional production results from the previously drilled wells in Eye Hill East.

Edge is planning on drilling a minimum of three wells, all of which should be drilled, completed and equipped for production testing prior to year end. Given the very short lead time between closing the financing and mobilizing the drilling rig, it hopes to add additional wells to the program if time, regulatory approvals, weather and rig availability will allow.

President & CEO of Edge Brad Nichol commented, "I am impressed with our team's ability to move so quickly and get a rig mobilized, wells licensed, locations constructed and equipment ordered all on a moment's notice. Their agility should allow us to get at least three wells drilled - and hopefully producing - before Christmas. I am equally excited about the prospect of drilling three more wells that produce just like our latest vertical in Eye Hill East. We are drilling these three wells very near the existing producer that exceeded our expectations so we're hoping for a nice surprise on these next three, as well. We expect to update our shareholders on these three wells in January."

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Most Popular Articles
From the Career Center
Jobs that may interest you
Technical Inspection & QA/QC Engineer
Expertise: Pipe Inspection / NDT, QA / QC / Inspection
Location: Iraq
 
Stage 3 Crane Operator
Expertise: Crane Operator
Location: Busan - South Korea
 
General Technician Fittings
Expertise: Maintenance Technician, Mechanical Technician, Welder / Fitter / Turner
Location: Doha
 
search for more jobs