Primary Petroleum comments - BWD
“Our land acquisition strategy will continue on a more focussed approach to enhance our current 3D seismic program. The proposed drill program will allow our technical team's ability to further evaluate, understand and de-risk our Alberta Basin Bakken prospect for future exploitation and development with an industry partner," said Mike Marrandino, president and chief executive officer of Primary in a news release.
"THE LATEST INDUSTRY RESEARCH REPORTS 44 COMPANIES ON BOTH SIDES OF THE BORDER HAVE ACQUIRED ACREAGE IN THE ALBERTA BASIN BAKKEN AREA OF INTEREST IN SOUTHERN ALBERTA AND WESTERN MONTANA THAT OUTLINES A FAIRWAY OF APPROXIMATELY 175 KILOMETRES NORTH-SOUTH, AND 55 KILOMETRES EAST-WEST. TO DATE, THERE HAS BEEN OVER 48 WELLS IDENTIFIED AND APPROXIMATELY
.5 BILLION SPENT ON LAND ACQUISITION, EXPLORATION AND DRILLING THAT ARE SEEKING TO EXPLOIT THIS EARLY-STAGE BAKKEN DISCOVERY AREA THAT HAS THE VAST POTENTIAL FOR MULTIPLE OF BILLIONS OF BARRELS."