Sturgeon Lake

This field was originally discovered in 1964 by a major oil company. Over the years the property had become neglected after being sold off a number of times to various owners. When the property was acquired by our team the field was marginally economic and was producing approximately 70 BOEPD from two zones. Many in the industry believed a number of the zones our team was proposing to produce could not be successfully completed or produced economically. Using tight fiscal management, 3D seismic, proprietary completion techniques and optimizing operating procedures, seven zones were produced economically from multiple wellbores. The team had optimized the property by Exploration Drilling, Development Drilling, installation of pipelines, as well as upgrading water disposal facilities, production facilities and blending of crude to achieve better crude sales pricing. The property experienced a dramatic increase in recoverable reserves and a reduction in operating costs. Before the company was sold, peak production on the property had reached over 2,000 BOE/d from seven zones and there were still opportunities to exploit on the property.