Junior Producer Reactivates Well

Junior Producer Reactivates Well

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, October 4, 2022

With natural gas again in demand, this natural resources company engages in the identification and development of opportunities in the unconventional natural gas sector of the energy industry and just reactivated one of its wells.

Natural gas explorer and producer Canadian Spirit Resources Inc. (TSXV:SPI) announced the reactivation its joint venture natural gas processing facility and the ongoing reactivation of the associated wells at Farrell Creek/South Altares area of northeastern British Columbia per the company’s press release. 

One of five wells in the reactivation program returned to production. Based on the net average production over 60 days prior to the suspension of its joint venture operations and shut-in of the five Farrell Creek/South Altares wells, the company anticipates a production rate of 0.58 MMcf/d once all five wells have been reactivated.

Shares were trading at $0.95 in morning trade.



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