Second Wave Petroleum Up 29% After Drilling First Successful Well at Judy Creek

By Midnight Trader,  April 21, 2011, 03:16:05 PM EDT

Second Wave Petroleum Inc. (SCS.TO) shares are up nearly 30% today after saying it drilled and completed its first successful Judy Creek Beaverhill Lake horizontal oil well under the terms of its previously announced Joint Venture and Farm-Out Agreement.

During the first seven and fifteen days of testing the 15-36 well flowed at average gross rates of 2,145 boe/d (86% light oil) and 1,825 boe/d (86% light oil), respectively. Prior to being shut in for an initial pressure build-up the 15-36 well had cumulative production of 27,600 boe comprised of 23,700 bbl of 40 APIo light oil and 24 mmcf of liquids rich natural gas.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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