Polaris Infrastructure Inc. reports its financial and operating results for the quarter ended September 30, 2017.
With availability of the rig and favourable economies of scale associated with drilling multiple wells, Polaris Energy Nicaragua S.A (PENSA) is moving forward with plans to drill a third new production well as part of the 2017 San Jacinto drilling program. This well, SJ 12-5, will be drilled off the same well-pad as SJ 12-4, likely targeting further expansion of the production zone at San Jacinto to the north or northwest. Drilling of SJ 12-5 is expected to commence in November 2017.
Marc Murnaghan, Chief Executive Officer of Polaris Infrastructure noted "The San Jacinto steamfield continues to deliver consistent generation and validates our strategy to expand the size of the resource and capitalize on the operating leverage we maintain. To that end, our 2017 drilling program appears to be yielding strong results and we look forward to providing further updates in the weeks ahead, as wells are assessed and then flow-tested."