Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/long-run-exploration-ltd-provides-an-operational-u.shtmlLong Run Exploration Ltd. provides an operational update
Long Run Exploration Ltd. provide an operational update to the end of November, 2012.
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Long Run Exploration Ltd. provide an operational update to the end of November, 2012.
Long Run has drilled 20.8 wells (net) in the fourth quarter to-date, with an additional 10 wells (net) planned for the remainder of 2012. Of those already drilled, 5.8 (net) have been horizontal wells targeting crude oil in the Montney zone in the Peace River area and 7 (net) have targeted the Viking zone in the Edmonton area. After the impact of the previously announced $180 million Saskatchewan Viking asset sale of approximately 1,900 boe per day, Long Run's 2012 exit production rate is anticipated to be approximately 23,000 boe per day. 2013 annual average production volumes are forecast to be approximately 25,000 boe per day targeting balanced oil and natural gas production.
As indicated in the November 15, 2012 press release, Long Run has announced a 2013 capital spending program of between $260 - $270 million, with approximately 50 percent of forecast spending targeting crude oil in the Peace River Montney play at Normandville and Girouxville.
