Trans Canada completes multilateral well in Alberta
Trans Canada drilled and completed all legs of the newly drilled multilateral well on the company’s heavy oil property situated near Lloydminster, Alberta. The company encountered oil in all of the target zones of interest in the GP sands.
The well is expected to be placed on full oil production shortly, and once the well has been completed and fully equipped, oil production rates will be released.
Trans Canada has received all required drill permits from the Alberta AER Regulator, and has completed all surface drilling operations. The Lloyd well was completed as planned, and on budget targeting oil pay in the GP sands. Croverro Energy Ltd., under the terms of the agreement will be Operator.
The company has acquired additional lands inside the Area of Mutual Interest (AMI), which will allow additional opportunity for multilateral wells. The lands are contiguous with our existing lands. The newly acquired lands, together combined with their existing lands, have the oil resource potential in both the Sparky and GP producing zones.
