Trans Canada Gold Corp has begun drilling on its second well near Lloydminster.
Precision Drilling has been appointed as its rig contractor. They have now spudded and commenced drilling on the second multilateral well.
The well is based on similar wells in the General Petroleum (GP) oil formation using surrounding well control combined with recently processed seismic lines.
“We now look forward to drilling our second multilateral well which is planned with 11 lateral legs in the GP oil reservoir. With the recent strategic land and lease acquisitions, well control and recently obtained and processed seismic data, the upcoming drill program in the GP sand has been de-risked as much as possible,” said Tim Coupland, president and CEO of Trans Canada Gold Corp.
“Our proven drilling and production strategy continues to deliver strong results, with our multilateral wells showcasing low decline rates that ensure steady, long-term output,” commented Director Chris Timmins. “This approach not only maximizes our resource recovery but also provides a stable foundation for sustained growth and value creation for our shareholders.”
The lands for the well are controlled by a partnership led by Croverro with the company holding a 18.75 percent interest.
The company acquired additional lands inside the area of Area of Mutual Interest which will allow more opportunity for multilateral wells.
Drilling on the second well is expected to last 10 days.
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