Crescent Point Update

Crescent Point Energy, one of the dominant players on the Saskatchewan side of the Bakken formation, has projected its reserves could double within five years through new applications of drilling technology.  Based on tests conducted over the past two years, the Calgary-based company believes that water injected into formations being tapped by nearby horizontal wells with multiple fracture stimulations could increase recovery from about 10 per cent to 30 per cent of oil in place. Four more pilot projects using water injection are planned for the company's Bakken fields over the next year. Read more...