CALGARY, Sept. 4, 2014 /CNW/ - Citadel Drilling Ltd. ("Citadel") and
Seven Generations Energy Ltd.("7G") are pleased to announce that
Citadel's Rig 1 has commenced drilling on 7G's Kakwa River Project
targeting the Montney formation. This development is an important step
forward for both companies, providing Citadel with the opportunity to
further advance its technology and allowing 7G to more effectively
develop its tight liquids rich gas resource.
Rig 1 is Citadel's first of a fleet of modern Technically Advanced AC
Triple (TA²CT) land-based drilling rigs. Designed specifically for
drilling deep, land-based pad wells, ideally equipped for 7G's Triassic
Montney resource play, the TA²CT rigs have been designed to optimize
drilling programs and reduce expensive downtime and labor costs for
clients. In addition, the rig addresses the ongoing needs of oil and
gas producers that require safe, programmable, efficient rigs with high
pressure drilling capabilities and increased horsepower pumping
capacity. To operate this advanced drilling rig, Citadel has recruited
a crew of rig technicians that in aggregate hold approximately 135
years of prior alternating current (AC) deep drilling experience.
7G's Kakwa River Project is presently dominated by development of the
tight, liquids rich Montney resource situated at a depth of 2,800 to
over 4,000 metres below the surface. 7G is presently developing the
Montney from multi-well surface pads, with wells having up to 3,000
metres of completed horizontal lateral length, and strives to identify
and advance technologies to cost effectively enable even greater
lateral reach. The addition of Citadel's Rig 1 brings 7G's contracted
fleet to 9 rigs in total.
Citadel's CEO, Dan Hoffarth, said, "7G is a perfect fit as our first
customer for the new TA²CT series rigs. The rig is designed for the
technical challenges presented by 7G's Montney. Further, with its
innovative corporate culture, 7G is the ideal partner to work with us
to prove and advance our products."
Barry Hucik, 7G's Vice President, Drilling, said, "We are pleased to
welcome Citadel Rig 1 to our fleet. We anticipate that Rig 1 will be a
significant step along the path to our objective of reducing costs
while extending horizontal reach, enabling us to develop more resource
with less surface land disturbance. We also look forward to welcoming
Citadel's Rig 2 and Rig 3 to our fleet as we ramp up our activity this
fall and into 2015."
About Citadel Drilling:
Citadel is a private company founded in March of 2013 with the objective
of presenting to the Canadian market a focused Company with
state-of-the-art AC triple drilling rigs that are designed to drill
4,500-7,500 meter vertical and horizontal plays in western Canada. Rig
1 is Citadel's first rig. Rigs 2, 3, and 4 are currently under
About Seven Generations Energy:
Seven Generations Energy Ltd. ("7G") is a private, Canadian company
engaged in the development of the Kakwa River Project (the "Project").
Located approximately 100 kilometers south of Grande Prairie, Alberta,
the Project is a tight liquids rich gas and light oil project in the
early stages of development. It contains an estimated potential
production capacity of more than 2 billion cubic feet per day of
natural gas and more than 200 thousand barrels per day of natural gas
liquids, including condensate. 7G has a corporate headquarters in
Calgary, Alberta and an operations headquarters in Grande Prairie,
SOURCE: Seven Generations Energy Ltd.
For further information:
Pat Carlson, CEO