Reece Hits Oil at Bakken
Reece Energy Exploration Corp. announced that its first exploratory Bakken well has been successfully tested for oil. As previously announced, the well (50% net to Reece) penetrated the Bakken formation for the full lateral section, extending approximately 1,400 meters horizontally. Oil was detected in the majority of the samples and "oil over the shaker" was observed during drilling. The well has been tested over the past six days with satisfactory oil recovery without fracture treatment. Reece and its partner will evaluate the well in the coming weeks.
"We are very pleased to have resource success in the first of our three exploratory Bakken areas. This success will help to prove up the 6,000 gross acres of Joint venture lands in the immediate area and bolsters our optimism for the our other two Bakken project areas," said Lorne Swalm the President and CEO of Reece.
As of today's date, the drilling rig is moving to the Company's second Bakken location to commence drilling in the second of the three larger land blocks acquired by Reece and its joint venture partner in the area.<
- Penn West Energy Trust Completes Acquisition of Reece Energy (May 01)
- Reece Drills Deep at Saskatchewan's Bakken Wells (Nov 03)
- Reece Drills 14 Wells in 3Q (Oct 23)