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Whitebark Energy appoints specialist drilling contractor for upcoming Rex-2 well

The Rex-2 oil well remains on track to spud from late-July to mid-August 2019.

schematic overlay of the wizard lake oil field and planned wells
The successful Rex-1 well produced its first commercial oil last week on schedule

Whitebark Energy Ltd (ASX:WBE) has appointed Canadian oil sector specialist Magus Engineering to manage drilling operations for the upcoming Rex-2 well at its Wizard Lake Project in Canada.

Magus has extensive experience managing end-to-end drilling programs and will manage all service procurement, drilling, wellsite construction and completion activities at Rex-2.

The appointment follows the recent commencement of commercial oil production from the Rex-1 well after the completion of production facilities and a pipeline.

READ: Whitebark Energy starts commercial oil production at Wizard Lake after constructing pipeline and process facility

Whitebark Energy’s managing director David Messina said: “Whitebark recently agreed to fund the next two wells in the Wizard Lake program in return for a 20% increased interest in the field.

“The Wizard Lake development presents an enormous growth opportunity for Whitebark and it is important we manage this program carefully as well as quickly.

“The appointment of a local operations expert with extensive technical experience in the region is an important step, and Magus Engineering is an excellent fit.

“With the well manager now in place and the weather in Canada conducive for continuous drilling operations, we look forward to updating shareholders on the spudding and progress of Rex-2 over the coming months.”

Proactive caught up with the company this week for an update

Quick facts: Whitebark Energy Ltd

Price: 0.012 AUD

Market: ASX
Market Cap: $30.54 m

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