Global Leader in International Oil and Gas Industry News

posted in:

Anderson Energy Ltd. provides operations update

Friday, Dec 21, 2012

Anderson Energy Ltd. ("Anderson" or the "Company") (TSX:AXL) provides the following operations update.

EDMONTON SANDS FARM-IN AGREEMENT

Anderson continues to focus on its light oil development prospects. The Company has reached an agreement in principle to terminate its commitment to drill 74 Edmonton Sands natural gas wells. In consideration for the termination of the commitment, the Company will convey to the farmor a 25% carried interest in four Cardium horizontal light oil wells that have been drilled or will be drilled in the fourth quarter of 2012 and first quarter of 2013. Three of these four wells are existing farm-in commitment wells to parties unrelated to the farmor in the Ferrier and Willesden Green areas. The fourth commitment well is on Anderson land at Garrington. To date, one of the commitment wells has been drilled and brought on production. The second commitment well has been drilled and the third commitment well has commenced drilling. The Company drilled 126 Edmonton Sands gas wells in 2008 and 2009 as part of the original farm-in agreement. The lands earned by drilling the 126 wells are not affected by the proposed amending agreement. The amending agreement is subject to completion of definitive documentation.

Source: Marketwire

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Silver Fox® labels exhibit excellent results in latest long-term UV tests 16-04-2014
OMVS explores adding oil & gas transportation services 16-04-2014
Octagon 88 Resources announces Red Earth light oil project update 16-04-2014
Dejour sees 60% increase in net production at Woodrush 16-04-2014
Integrated Oceaneering team combines technologies for Australian success 16-04-2014
SoCalGas Unveils Branded, Public-Access Compressed Natural Gas Refueling Station 16-04-2014
First Liquified Natural Gas Tank Rolls Off Assembly Line 16-04-2014
Barryroe farm out update 16-04-2014
Gastar Exploration Resumes Unrestricted Marcellus Shale Production 16-04-2014
Lamprell has received a new contract award for the construction and delivery of two Mobile Offshore Drilling Platforms 16-04-2014