- Prospera in 2021 launched a new strategy to improve margins and oil and gas production while minimizing environmental impact
- Horizontal well-technology allows for increase in production and Prospera has now abandoned 60 vertical wells as part of its three-year LMRP to reclaim surface land and reduce environmental footprint that will see 200+ vertical wells abandoned
- Prospera this month completed the drilling of four horizontal wells of a ten-well multi-pad infill drill program that can add an additional ~750 bpd at a low decline to Prospera’s current 900+boepd
With more than 42,000 cumulative acres across Cuthbert, Luseland and Heart Hills in Saskatchewan and Red Earth and Pouce Coupe in Alberta, Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) has the potential to be a significant North American oil and gas producer. In 2021, the company underwent a top-down reorganization, a strategy to realize this potential and do so with best practices regarding protecting the planet. Less than two years into the three-part plan, Prospera is hitting its key performance indicators (“KPIs”), and growing production with an eye on reducing vertical wells.
With its restructuring, Prospera incorporated innovative ESG (environmental, social, and governance) technologies to support a robust Liability Management Ration Program (“LMRP”) to reduce the environmental footprint, Asset Retirement Obligation (“ARO”), and corresponding control expenses and…
NOTE TO INVESTORS: The latest news and updates relating to GXRFF are available in the company’s newsroom at https://ibn.fm/GXRFF
About MiningNewsWire
MiningNewsWire (“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled recognition and brand awareness.
MNW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from MiningNewsWire, text “BigHole” to 844-397-5787 (U.S. Mobile Phones Only)
For more information, please visit https://www.MiningNewsWire.com
Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.MiningNewsWire.com/Disclaimer
MiningNewsWire
Los Angeles, CA
www.MiningNewsWire.com
310.299.1717 Office
Editor@MiningNewsWire.com
MiningNewsWire is powered by IBN
