CEA still in oil business ? with VITAL ? CALGARY, Alberta, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Vital Energy Inc. (“Vital” or the “Corporation”) announces:
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As previously reported, the Pennant Area, S.W. Saskatchewan Project horizontal test well, with Cerus Energy Corp. (“CEA” TSXV) as a partner, located in 14-15-18-17W3M has been drilled, completed and placed on production. The well is currently producing at a rate of approximately 270 barrels of fluid per day with an approximate 94% water cut. The oil being produced is medium gravity from the Upper Shaunavon formation. As previously reported the 15-20-18-17W3M horizontal well, owned 100% by Vital, has been drilled and is awaiting frac and completion. It is anticipated that the 15-20 well will be completed by year-end 2018. Pending the results of the 15-20 completion, Vital may drill additional horizontal wells on the Pennant Area project lands.
Vital is the Operator of the Pennant Area project and other than the drilling spacing unit (D.S.U.) for the Vital/Cerus well located in Lsd.14 of Section 15-18-17W3M, Vital owns a 100% working interest in 8,960 gross and net contiguous acres
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