Spartan Exploration Drills Ahead in West Pembina
Spartan Exploration provided an update of its recent drilling activity in the West Pembina area of central Alberta. Spartan has drilled and cased two horizontal Cardium wells at its Cynthia property and is currently drilling a third. Spartan has a 100% working interest in all three wells. The first well was completed utilizing a multi-stage oil based fracturing technique. The well flowed at an average rate of 1,573 barrels of oil per day (bbl/d) and recovered 100% of the frac fluid over the clean up period. Following recovery of the frac fluid, the well was flowing at an average rate of 1,944 bbl/d of light 38 degree Cardium oil and 2.56 million cubic feet per day (mmcf/d) of solution gas for four hours, following which it was shut in for equipping. The well is expected to be on production by mid June at the rate (on pump) of approximately 300 bbl/d (oil). The second horizontal well is set to be completed shortly.
Spartan has access to over 17 (14 net) sections in the Pembina area (owned and farmin). Spartan does not currently have any horizontal Cardium locations booked in its year end December 31, 2009 independent engineering report. Spartan's current production base (excluding the new well) is approximately 400 boe/d.