Surge has drilled, completed and placed on production all 22 gross (17.9 net) planned wells in the fourth quarter of 2012. As such, Surge is well positioned to meet its targeted exit production guidance of 11,000 boe per day. At Valhalla South, Surge drilled, completed and tied-in three gross (1.96 net) horizontal multi-frac wells. All wells are currently on production, and although all of the wells have not produced for an entire month, it appears that on average the wells will exceed the [Read more]
Headlines
Progress, Petronas say government approval of takeover was vital to expansion
By The Canadian Press CALGARY - Progress Energy Resources Corp. and the Malaysian state-owned company which has been approved to acquire it say Ottawa's greenlighting of their deal is vital to the expansion of their Liquid Natural Gas plans. The two companies released a joint statement Sunday night welcoming the Conservative government's decision, which was announced on Friday along with the approval of Chinese state-owned CNOOC's bid for Calgary-based Nexen Inc. In the [Read more]
YES. YES. Harper approves Nexen and Progress deals
By Stephanie Levitz and Craig Wong, The Canadian Press OTTAWA - Prime Minister Stephen Harper ended months of market uncertainty by approving the foreign takeovers of Calgary-based Nexen Inc. and Progress Energy Resources Corp. — but insisted future appropriations by state-owned firms in the oilsands would become the exception rather than rule. China's CNOOC and Malaysia's Petronas, both Asian state-controlled enterprises, received the OK late Friday as part of a wide-ranging update of [Read more]