Mr. Wisniewski continued, “We have 4,000 feet of liner cemented in the lateral section of our target zone of this third well, which will yield a slightly longer completed interval than what we had in our first two wells. While still early days, the shows of hydrocarbons and formation samples obtained along the lateral length while drilling this well appeared very similar to what we saw while drilling our initial well. We have scheduled fracking operations with a major pressure pumping provider and expect to bring the well on production no later than the middle of December.”
In other news, to mitigate the effects of fluctuating prices on a portion of its 2018 production, Eagle has entered into a fixed price financial swap for 650 barrels of oil per day at a WTI price of $US 75.08 per barrel for the months of October through December 2018. Eagle has no other production hedged at this time.