CALGARY, Alberta, Nov. 06, 2017 (GLOBE NEWSWIRE) — Vital Energy Inc. (“Vital”) announces that the funding for the drilling and completion costs for the first well in the previously announced Phase 1 earning well drilling program has been advanced by Cerus Energy Corp. (“Cerus” “CEA”) (TSX-V:CEA) to Vital.
Drilling of the first well (UWI: 91/14-15-018-17W3M) is expected to commence on or before November 14, 2017. The primary target is medium gravity (21 degree) oil from the Upper Shaunovan formation. Vital will be the Operator of the Phase 1 earning well drilling program.
Vital Energy Inc. is a publicly traded junior oil and gas company (TSX-V:VUX) whose primary focus is developing light and medium crude oil production in Western Canada.