Invicta Energy Corp. (VCA.V) reported that it has successfully completed its eight well Viking light oil horizontal drilling program in the Kindersley area of Saskatchewan during the past two months. It said all eight wells have now been completed with up to twelve multi-staged frac's per well and placed on production. Each of the 8 wells are being equipped with pumping units and pipelines are being surveyed for construction to conserve the solution gas through third party facilities. Invicta has also constructed a treating facility at a central location in order to treat its own oil. This facility will enable Invicta to reduce overall operating expenses and increase netbacks.
Invicta said it will provide an update in relation to production rates from these wells once stabilized rates are available. An additional 8-10 drilling locations will be prepared for drilling later this year, it added. With this recent round of drilling Invicta has delineated the Viking reservoir over a larger area and said it is confident of its Kindersley area drilling inventory of over 80 locations.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
