Nextraction Energy Corp. has successfully completed a second round of fracing by completing the upper Middle, Lance and Tertiary zones of its producing gas well in Pinedale, Wyoming. The well was originally completed in, and is producing from, the Lower Lance and Mesaverde formations and the production from the upper zones is being added to the flow rates as gas prices improve.
"We have learned a great deal about our lease position on the northern end of the Pinedale Anticline by investing US$6.8 million into drilling and completing the Noble 6-24 well and equipping the surface location superpad for a multi-well drilling program,” said Mark S. Dolar, president of Nextraction. “Our confidence in the play is increasing as the project has the potential to develop 30-60 wells. We are also excited to expand the project by acquiring seismic data across the lease area, including the acreage held 100% by Nextraction."
Nextraction is looking to substantially increase its participation in the Pinedale Area, which is currently being developed with Vantage Energy, LLC as the operating partner, and is looking to increase its scale of business in Canada and the United States.
About Nextraction Energy Corp.
Nextraction Energy Corp. is a Canadian junior oil and gas company engaged in the exploration and development of oil and gas resources in North America. Nextraction targets projects with known reserves that provide lower risk, high return development opportunities in both conventional and unconventional resource projects, where our technical expertise can be applied to enhance production. The company is headquartered in Vancouver, BC, Canada, and is currently developing a tight-sands gas play on the Pinedale Anticline in the Green River Basin region of western Wyoming, and a 70,130 acre (109 sections) Chattanooga shale gas resource play in Eastern Kentucky and Tennessee.
Recommended Reading
Utica Oil E&P Infinity Natural Resources Latest to File for IPO
2024-10-05 - Utica Shale E&P Infinity Natural Resources has not yet set a price or disclosed the number of shares it intends to offer.
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
BKV Prices IPO at $270MM Nearly Two Years After First Filing
2024-09-25 - BKV Corp. priced its common shares at $18 each after and will begin trading on Sept. 26, about two years after the Denver company first filed for an IPO.
Sheffield: E&Ps’ Capital Starvation Not All Bad, But M&A Needs Work
2024-10-04 - Bryan Sheffield, managing partner of Formentera Partners and founder of Parsley Energy, discussed E&P capital, M&A barriers and how longer laterals could spur a “growth mode” at Hart Energy’s Energy Capital Conference.
Wildcatter at Heart: Autry Stephens (1938-2024)
2024-08-18 - Legendary wildcatter Autry Stephens, founder and chairman of Midland Basin E&P Endeavor Energy Resources, stayed true to his “never sell” strategy.