Strategic Oil & Gas Ltd. (ticker: SOG) announced its summer drilling program for the third quarter of 2017. The company plans to drill and complete approximately four new horizontal wells in its Marlowe asset, located in northwestern Alberta.
This news comes on the heels of Strategic’s completion of five Muskeg horizontal test wells in Q1, 2017. Three of the five test wells have displayed average rates of BOEPD 453, 741 BOEPD, and 746 BOEPD, respectively. The oil cut from each of the wells has been between 70% and 90%–higher than previous Muskeg wells. The remaining two wells produced more modest production results at over approximately 200 BOEPD—but are still cleaning up following completion.
Strategic’s Marlowe asset is located approximately 100 kilometers north of High Level, Alberta, and produces both natural gas and 34 degree API oil—depending on location within the asset. The formation from which the Marlowe produces is situated on the edge of a buried asteroid impact crater—and tends to hold thick oil bearing zones. The company has production in stacked reservoirs made up of the Keg River and Sulphur Point formations, as well as the Muskeg—a layered dolomite—where the new wells are being drilled.
Strategic Oil & Gas Ltd. is presenting at EnerCom’s The Oil & Gas Conference® 22
Strategic will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.
The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors. The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.
