Lexington Energy's Rigs Begin Second Phase of Oil Sands Project
Posted on: Thursday, 25 January 2007, 09:01 CST
CALGARY, Jan. 25 /PRNewswire/ -- Lexington Energy Services Inc. (LXES.OB): Lexcore Services Inc., a subsidiary of Lexington Energy Services Inc., is pleased to announce that the first of its rigs are moving from the Fort McMurray area to the Peace River area to begin the second phase of Laricinia Energy's oil sands exploration project.
"This next area of drilling near Wabasca is going to give our rigs the opportunity to demonstrate their full potential," said Dan Nanninga, Lexcore's VP of Operations and a veteran of the oil sands. "We're looking forward to showcasing just how fast these rigs can drill."
Designed in close consultation with industry leaders, Lexcore's drilling/coring system is ideally suited for the exploration coring required for the massive amount of land poised for development in Alberta's oil sands.
Oil sands companies evaluate oil sands by drilling evaluation holes and removing core samples. This is particularly important for Alberta's expanding oil sands, where traditional seismic exploration is not nearly as effective.
Coring involves cutting a cylindrical sample out of the earth during drilling to allow geological analysis of what lies below. That geological analysis can determine the well or oil sands location's physical characteristics like porosity, permeability, fluid content, geological age, and its probable productivity.
Lexcore Services Inc. is a wholly owned subsidiary of Calgary-based Lexington Energy Services Inc. and its first two drilling/coring systems are currently under contract for 69 wells with Laricinia Energy Ltd. in Alberta's oil sands.
CONTACT: Mark Procknow, Corporate Communications, Lexington Energy Services Inc., Calgary, AB, (403) 279-4585
Lexington Energy Services Inc.
CONTACT: Mark Procknow, Corporate Communications, Lexington EnergyServices Inc., Calgary, AB, (403) 279-4585
Source: PRNewswire
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