Robert L. Hodgkinson, DXI’s Chairman & CEO reports,
“This is truly an exciting time in NEBC as we are seeing resurgement investment interest in the Fort St. John region, evidenced by recent natural gas related leasing activity by industry giants along with a positive move forward in Canadian LNG export plans. Coupled with improved forecasts for commodity pricing, DXI will accelerate its timeline to increase daily natural gas production and associated cash flow at the Woodrush project while keeping focused on our 2018 initiatives related to developing new Halfway oil production. As reported in March, the b-B100E discovery well logged 29.5′ of net hydrocarbon pay, the thickest reservoir of the entire leasehold to date. Plans are to tie into production in the third quarter with reserve volumes calculated shortly thereafter. The new data is providing the necessary clarity in defining the best bottom hole locations to drill for additional Halfway oil pools and perhaps deeper targets later this year.”
With oil prices rising and the possibility of some stability in the natural gas markets, it is certainly time to take another look at oil and gas juniors. Especially companies like DXI which are adding productive assets in the form of producing wells.