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LGX Oil + Gas announces results of successful 2014 drilling program


Published Feb 5, 2015
LGX Oil + Gas Inc.-2

LGX Oil + Gas Inc. provides completion results from late 2014 southern Alberta drilling activity. LGX drilled two horizontal wells into the Big Valley (Three Forks) Formation (12-2-8-24W4 and 6-36-8-24W4). The total capital expenditures for the two wells came in on budget at approximately $14 million.

The 12-2 well was drilled with a 1,402 m horizontal lateral and was completed with a 20 stage fracture stimulation. The well was put on production late November 2014 and averaged 315 Bbl per day of light oil for the first 30 days of production. LGX has a 100 percent working interest in the well prior to recovery of 200 percent of the drilling, completion, equipping and tie-in costs, at which point its interest will revert to 80 percent.

Tags: LGX Oil + Gas Inc.




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