Lexaria to open new well
WILKINSON COUNTY — Lexaria Corp. announces that it expects to spud a new well in its Belmont Lake oil field in Southwest Mississippi on or about Sept. 21. This well, the PP F-12-4 will target the same oil formation as the company’s existing two producing oil wells in the field.
If field conditions permit, this well will be drilled and completed as a horizontal well located approximately 330 feet to the north of the existing PP F-12 and PP F-12-3 oil wells. Assuming success, the well should be completed and tested by early October and tied into production lines and tanks not later than November.
Lexaria, which is based in Vancouver, British Columbia, Canada, and primarily works projects in Mississippi, has a 35.7 percent interest in the PP F-12-4 well, comprised of a 27.7 percent perpetual interest plus an 8 percent interest in the well revenue until such time as the well returns 500 percent of invested capital, at which time the 8 percent interest only, ceases.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Congressional delegation applauds Air Force's decision on Keesler, but not satisfied
- (UPDATED) Making Jackson-Evers affordable to Allegiant is key to regaining Orlando service
- County rescinds gun ban; sheriff says lawmakers may 'deal with the consequences'
- Deal for Jackson-Orlando flights in works with Allegiant
- Report: Mississippi sees biggest hike in home insurance premiums in U.S.
- Great River Industries moving headquarters to Natchez
- Giles Ward will not seek reelection to Senate
- Businessman involved in Frankel insurance scam dies at 81
- Commission to decide if emergency should be declared in Delta school system
- Baseball stadium for Farish Street? It’s possible