Current LXE:CA Stock Info

Focused in the Montney play in Northeast British Columbia, Leucrotta (ticker: LXE) holds approximately 100,500 gross (90,200 net) acres. Overall, the company averaged approximately 2,700 BOEPD in Q1, 2017.

Within the Montney, Leucrotta has drilled a total of eight horizontal wells, three of which have exhibited liquids-rich gas, the remaining five showing light oil.

Acquisitions

In a land acquisition announced on April 5th, 2017 and closed on May 17th, 2017 Leucrotta purchased 18.5 sections, or 11,840 acres, of undeveloped land in the Lower Montney light oil play for $36 million, Canadian. The majority of the acreage purchased falls in the oil window of the Montney formation.

The Doe/Mica area

The majority of Leucrotta’s acreage is focused in the Doe/Mica area within the Montney. The assets are centered in liquids-rich gas and high GOR light oil at relatively shallow depths. Leucrotta reports that its drilling and completions costs fall between $2-4 million per well.

Leucrotta Exploration Inc.: Delineating and Growing the Montney

Source: Leucrotta Exploration

Beyond its hydrocarbon potential, the acreage is attractive due to its proximity to major pipelines, such as TransCanada’s NGTL, Alliance, and Pembina. The company has noted that the area has been subject to increased activity by competitor companies.

Leucrotta’s Montney position also contains a high degree of in-place infrastructure. Nearby is a 25 Mmcf per day sweet gas plant, a 63 Mmcf per day metering station owned by Alliance, a salt water disposal well, acid gas injection well, and a 60 Mmcf per day plant that is being installed.

Leucrotta Exploration Inc.: Delineating and Growing the Montney

Source: Leucrotta Exploration

Additional potential

In seeking new locations to drill and extract hydrocarbons, Leucrotta began the delineation of two out of five potential producible zones. The company began evaluating potential in the Upper Montney Doig zone and the Lower Montney, D1 zone. The other potential zones are the Middle Montney, D5; Middle Montney, D3-D4; and the Lower Montney, C1.

During Q1, 2017 Leucrotta finished an infrastructure project intended to tie-in four delineation wells, and completed additional delineation wells that enhanced the company’s productive zone.

Leucrotta Exploration Inc. is presenting at EnerCom’s The Oil & Gas Conference® 22

Leucrotta will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.

The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors.  The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.


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