Artek Exploration Announces Operational Updates, Including Record Production Level in 2012

Artek Exploration Ltd. (TSX:RTK) announced that they hit record production levels in 2012 with over 4,000 boe/d (approximately 44% oil and natural gas liquids).

As quoted in the press release:

On the back of this success, Artek is pleased to announce its 2013 capital expenditure budget of $55 to $58 million which contemplates the drilling of approximately 14 to 15 gross (8 to 9 net) wells. The currently planned capital program will be weighted 100% to projects targeting oil and condensate with associated natural gas which deliver the best returns and upside, including up to 10 gross (6.1 net) horizontal wells in the condensate rich Inga/Fireweed area, 3 to 4 gross (1.2 to 1.6 net) vertical wells in the Leduc Woodbend area and 1 gross (1.0 net) horizontal well in the Peace River Arch area of Alberta.

To view the full press release, click here.

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