Strategic Oil & Gas Ltd. (ticker: SOG) is an oil and gas company based in Calgary, Canada.
In the first quarter of 2018, Strategic drilled two horizontal Muskeg development wells at west Marlowe in northwestern Alberta. The wells commenced production in March, one month ahead of schedule. Production for the quarter was 2,183 BOEPD.
SOG Muskeg Development Wells, April 2018
According to the company’s April 2018 presentation, Strategic has drilled 36 Muskeg wells and has 600 potential drilling locations. Proved and probable reserves as of December 31, 2017 were 16.0 MMBOE, with a net value of approximately $130.1 million.
Processing facilities
The company has two 100% owned and operated processing facilities that are connected to oil and gas sales pipelines. The 9-17 plant can process 11 MMcf/d of raw gas, 9 MBOPD and 6 MBPD of water. Strategic’s second plant, 1-28, can process 1 MBOPD and 2 MBPD of water.
Source: Strategic Oil & Gas Ltd.
President and CEO Tony Berthelet
Last month, Strategic announced that Tony Berthlet would be joining the company as president and CEO on May 21, 2018.
Tony Berthlet
Berthelet recently served as VP of development and operations with an intermediate publicly-traded oil and gas company in Calgary. During his tenure, Berthelet led a technical team of 200 field and office staff responsible for light oil, heavy oil and waterflood development of various assets across Alberta. Cody Smith, who acted as interim CEO, will continue with the company as COO.
Strategic Oil & Gas will present at the EnerCom conference in Denver
Strategic Oil & Gas will be presenting at the 23rd annual edition of The Oil & Gas Conference®. The conference will take place August 19-23, 2018, at the Westin Denver Downtown. Investment and oil and gas professionals may register for the conference on the website.
