In an update on the Lachowice natural gas field in Poland, which was included among the concessions Horizon Petroleum agreed to acquire from San Leon in a deal expected to close in mid-2018, Horizon confirmed a private placement of up to CAD5m ($4m) to complete the acquisition and develop the field. Lachowice has an estimated 36 Bcfe (6.0 MMBoe) of probable undeveloped reserves, valued around $98m gross. The company said it expects production at its new site to begin by late 2018 or early 2019.
In an update on the Lachowice natural gas field in Poland, which was included among the concessions Horizon Petroleum agreed to acquire from San Leon in a deal expected to close in mid-2018, Horizon confirmed a private placement of up to CAD5m ($4m) to complete the acquisition and develop the field. Lachowice has an estimated 36 Bcfe (6.0 MMBoe) of probable undeveloped reserves, valued around $98m gross. Plans for the site include drilling a new vertical well in 2019 and two horizontal or highly deviated wells to start in mid-2020.