Saturn Oil + Gas Inc. (“Saturn” or the “Company”) (TSX.V:SMI) (FSE:SMK) would like to provide an update on the Company’s recent land acquisition and Q1/2018 drill program.
Saturn has closed its land acquisition with Whitecap Resources Inc. The Company has acquired one section of land with rights from base Colorado to base Mannville. The acquired section is adjacent to Saturn’s existing land holdings and the Company has licensed its first horizontal well targeting the Success formation on the acquired land.
Saturn has also licensed six additional horizontal wells targeting the Viking formation. The Company commenced drilling operations on these wells in late January and has already successfully drilled three horizontal Viking wells. Completions for these three wells is scheduled for the coming week.
“Our first two Viking horizontals continue to produce beyond our expectations and have allowed us to pursue additional land. Our technical team has designed a drill program for Q1 to increase our production and plan for aggressive growth over our 13 gross sections of land. We look forward to completing these recently drilled Viking horizontals and increasing our inventory of de-risked horizontal wells,” stated Scott Newman, Chief Operating Officer at Saturn Oil + Gas Inc.