Global Leader in International Oil and Gas Industry News

posted in:

Zargon Oil & Gas Ltd. provides 2012 third quarter results

Thursday, Nov 08, 2012

Zargon Oil & Gas Ltd. ("Zargon" or the "Company") (TSX:ZAR) (TSX:ZAR.DB).

Field Activities

Field activities were limited to workovers and turnarounds for most of the third quarter. Starting in mid-September, Zargon began its fall drilling program at Bellshill Lake with the drilling of 2.0 net oil wells and 1.0 net water disposal well. For the year, Zargon has drilled 12.8 net oil wells and is planning on drilling an additional 15 net wells in the 2012 fourth quarter. This program will entail a Hamilton Lake water disposal well and oil exploitation horizontal locations at Bellshill Lake (three additional), Hamilton Lake (three), Taber South (three) and Williston Basin (five). Each of these locations target increased oil recoveries from existing oil pools. In aggregate, Zargon has identified more than 130 horizontal locations in six conventional (non-ASP) oil exploitation projects, which will provide a high-graded drilling inventory for many years. Each of these six oil exploitation projects are (or will be) pressure supported by water injections or natural reservoir aquifers and consequently provide long-life low-decline oil volumes that will support future dividends.

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

AVEVA provides Integrated Engineering & Design solutions to TOTAL E&P Nigeria Limited 18-04-2014
Oando Energy Resources increases deposit for acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips 18-04-2014
Linde will be exclusive hydrogen supplier for the Shell Eco-marathon in Houston 18-04-2014
Technip wins Umbilical contract for Kaombo project in Angola 18-04-2014
Forest Oil announces first quarter 2014 earnings release date and teleconference 18-04-2014
Saipem announces awarded FPSO contracts in Angola worth more than $4 billion 18-04-2014
Endeavour announces settlement of SM Energy litigation 18-04-2014
Drilling and production update 18-04-2014
Shell announces Malaysia deep-water gas discovery 18-04-2014
Meeting between the Ukrainian Minister of Energy, Yuri Prodan, and Eni's CEO Paolo Scaroni 18-04-2014