Nordic Oil JV signs farm-in deal for Noel Cardium well
Nordic Oil JV signs farm-in deal for Noel Cardium well
2014-12-10 11:55 ET - News Release
Mr. Donald Benson reports
Nordic Oil JV signs farm-in deal for Noel Cardium well
2014-12-10 11:55 ET - News Release
Mr. Donald Benson reports
NORDIC SIGNS FARM IN FOR CARDIUM WELL NOEL RECOMPLETION BEGINS
Nordic Oil & Gas Ltd. has entered into a farm-in agreement with the farmors in the Noel South project for the planned Cardium well to be drilled on an existing surface lease. Under the terms of the agreement, Nordic and its partner will pay 100 per cent of the costs of the Cardium well, and as a result will earn 90 per cent before payout and 75 per cent after payout. "The recompletion of the existing well at Noel South has begun with the rig arriving Tuesday," stated Donald Benson, chairman, chief executive officer and president of Nordic. "We are very excited that this project is now proceeding and anxiously await the results of the perforation of the Cadotte zone," he said. "We have a newer type of stimulation tool on site and if we do not get the type of inflow we expect we will be setting off this charge that acts as a mini-frac substitute." Better times are ahead for Nordic.
It just seams to get better and better, WOW
Year of the Profit, Oilseeker
Nordic Oil & Gas Ltd. has entered into a farm-in agreement with the farmors in the Noel South project for the planned Cardium well to be drilled on an existing surface lease. Under the terms of the agreement, Nordic and its partner will pay 100 per cent of the costs of the Cardium well, and as a result will earn 90 per cent before payout and 75 per cent after payout. "The recompletion of the existing well at Noel South has begun with the rig arriving Tuesday," stated Donald Benson, chairman, chief executive officer and president of Nordic. "We are very excited that this project is now proceeding and anxiously await the results of the perforation of the Cadotte zone," he said. "We have a newer type of stimulation tool on site and if we do not get the type of inflow we expect we will be setting off this charge that acts as a mini-frac substitute." Better times are ahead for Nordic.