The program is expected to increase the current 650 barrels of oil equivalent daily net production in the fields by about 20%.
The planned program will involve multiple reworks of active wellbores, production enhancements and completion of new zones.
The main aim of the program is to provide the company with increased cash flow at a low cost of capital, as well as to be funded with internal cash flow.
The company has identified multiple potential drilling and sidetrack opportunities in the Lake Hermitage Field, of which about seven are proved undeveloped locations with multiple stacked pay zones.
