Ju­nior oil com­pany near Brooks an­nounces drilling ex­pan­sion plans

Prairie Post (East Edition) - - Alberta - SOUTH­ERN AL­BERTA NEWS­PA­PERS

An ju­nior oil com­pany op­er­at­ing near Brooks could fur­ther ex­pand its foot­print in the Princess field, south of Di­nosaur Pro­vin­cial Park, this year.

Prairie Prov­i­dent an­nounced May 14it has se­cured an op­tion to pur­chase rights for 21 sec­tions in that area as it fo­cuses on Glau­conite ex­plo­ration.

The trans­ac­tion would bring the com­pany’s net un­de­vel­oped hold­ings there to 48,500 acres, where, this year, it plans to drill two wells and per­form seis­mic ex­plo­ration.

The as­sets in the area cur­rently pro­duce about 1,200 bar­rels per day weighted about three­quar­ters to liq­uids.

The com­pany that last year ex­panded into the Drumheller area re­ported a 29 per cent pro­duc­tion in­crease over the first three months of the fi­nan­cial year on Tues­day, bring­ing the fig­ure to 5,960 bar­rels per day.

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