Saskatchewan - Land of Opportunity

Since its inception Reece Energy has been positioning itself with “resource” plays in Saskatchewan. A resource play is an oil or gas play that allows for many wells to be drilled with reasonably predictable results. The initial upfront investment in geology, land positioning and facilities is spread over many wells and thus results in steady growth of the company.

Saskatchewan is a great place to develop oil and gas assets at this time. The government is very receptive and is on the leading edge of understanding the value of horizontal drilling, multi stage fracturing and other new technologies that are unlocking sources of energy that would otherwise be left behind. Saskatchewan is the place to be and can look forward to many decades of growth if these attitudes prevail.

Reece has positioned itself with great resource plays in Saskatchewan with long life reserves. The management of Reece looks forward to long term growth that will benefit all who participate.

Bakken

The Bakken formation in the Williston Basin contains billions of barrels of high quality light oil. The oil is contained in tight, siltstone/sandstone about 1.5 kilometers beneath the surface. While not usually productive in vertical wells, it has proven to be a great resource play now that horizontal drilling and multi-staged fracturing techniques have come of age. Reece has an interest in over 55 sections (net 27.7) of mineral rights with Bakken potential in south east Saskatchewan. Exploration drilling has commenced in an effort to delineate these lands. Ten wells (net 5) are planned for 2008 and with success, development drilling will begin in earnest in 2009.

Viking

The Viking formation located in the Western Canadian Sedimentary Basin is made up of tight sandstone interlaced with siltstone and shale. In some areas, the Viking contains large quantities of light oil or sweet natural gas. This tight sandstone gives up the energy trapped within when developed with horizontal drilling and multi-stage fracturing techniques. Reece has a strong land position in the west central area of Saskatchewan that is ripe for development. Reece was the first in the area to utilize the new drilling and completion techniques and has been drilling steadily all year. Reece has completed ten (net 10) of these Viking light oil wells as of the end of June, and plans to drill a minimum of 10 more before the end of 2008.

Be sure to check back with us often to see our progression in these fields. If you wish, click here to add yourself to Reece’s e-mail list and get updates and press releases sent to you as soon as they are released.

Quick Links

News

Stock Quote