Filter news

57412 articles online
Opinion & Comm.
Keyword

All words
Any words

Added
 

Article Tools

 

Arctic Hunter continues production growth and completes another well at Blackfoot

Tuesday, February 7, 2012
  • Arctic Hunter Energy announce that the Company has participated in successfully drilling, completing and bringing onto production another well situated on its Blackfoot property located in east central Alberta.

As previously announced by the Company (see press release dated December 6, 2011), the Company entered into a farm-out agreement with Sahara Energy Ltd., Forent Energy Ltd. (as Farmors) and Petrocapita Oil and Gas L.P. (as Farmee together with the Company).

Under the terms of the farmout agreement, the Company and Petrocapita have agreed to spud one test well by December 13, 2011 on Lsd 4, Section 2-50-2W4M in the Lloydminster area of eastern Alberta. Arctic Hunter and Petrocapita paid 100% of the costs (50% to Arctic Hunter and 50% to Petrocapita) to drill, complete and equip or abandon the test well to earn a 100% working interest (50% to Arctic Hunter and 50% to Petrocapita) subject to an overriding royalty in favour of Sahara and Forent equal to (a) 6% of gross monthly production from the well until payments of $43,781.85 have been made pursuant to the royalty; and (b) 5% of gross monthly production thereafter.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related Companies

Related News

Join 70,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Your details are never shared or sold. We hate spam too.

Key Supporters


 

» More Jobs       » Upload a free Job       » Upload your CV

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • What ails the North Sea?
    There is a need to act before the North Sea ‘fails’ economically Despite continuing high oil prices, the mature UKCS and NOCS producing provinces continue to b ...
  • Oil and cash flow: the Kurds' conundrum
    Some ten days ago, the Kurdistan Regional Government (KRG) were reported to have sent Peshmerga units into the Bai Hassan and Kirkuk oil fields - formerly under ...

» More Opinion & Commentary         » Write for us             RSS RSS

OilVoice Magazine
Oil Echo
Oil Earth

Opinions & Commentary

Oil price, Shell and finally...

by Malcolm Graham-Wood

Read More »