Viking Files Notices to Drill 21 New Wells in Kansas
HOUSTON, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Viking Energy Group, Inc. (“Viking”) (OTCQB: VKIN) is pleased to announce it filed a “Notice of Intention to Drill” (the “Notices”) with respect to the proposed drilling of 21 new wells in Kansas.
The Notices were filed with the Kansas Corporation Commission, Oil & Gas Conservation Division (the “KCC”), by S&B Operating, LLC on behalf of Mid-Con Drilling, LLC (“Mid-Con”), one of Viking’s wholly-owned subsidiaries, and relate to the proposed drilling of a combination of producing wells (oil) and water injection wells on certain of Mid-Con’s leases in the Counties of Douglas, Franklin, Miami and Allen in Eastern Kansas.
The effective date of the Notices is August 19, 2018, and the estimated spud dates of the wells range from August 19th to September 12th, 2018, which may change depending on weather, availability of drilling rigs and other conditions. The estimated depth of the proposed wells ranges from 700’ to 1000’, and the producing wells will target Squirrel sands, a sandy zone in the upper part of the Cherokee shale.
S&B Operating, LLC is a subsidiary of Kansas Resource Development Company, a premier operating company in Kansas and Missouri, and its executives have decades of experience in the oil & gas sector, specializing in formulating and operating water-flood enhanced oil recovery programs. The Notices filed by S&B are made available for viewing on-line by the KCC through the website for the Kansas Geological Survey, University of Kansas (http://www.kgs.ku.edu/PRS/currentinfo.html).
Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in North America. The company owns oil and gas leases in Kansas, Texas, Louisiana, Mississippi and Alberta. Viking targets under-valued assets with realistic appreciation potential.
Safe Harbor Statement:
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's Forms 10-K and 10-Q filed with the SEC.
For additional information please contact:
James A. Doris, President and C.E.O.
Viking Energy Group, Inc.
15915 Katy Freeway, Suite 450
Houston, TX 77094
Released August 16, 2018