NEW YORK, NY--(Marketwired - Feb 22, 2017) - Viking Investments Group, Inc. ("Viking") (OTC PINK: VKIN) is pleased to announce its wholly-owned subsidiary, Mid-Con Petroleum, LLC ("Mid-Con"), is proceeding with phase one of the low-cost maintenance program announced by Viking on February 2nd, 2017 regarding improvements to certain of its existing oil leases in Eastern Kansas.
Mid-Con, with assistance from its operator, S & B Operating, LLC ("S&B"), a subsidiary of Kansas Resource Development Company, completed a performance review of all of its existing producing leases in Kansas and identified relatively low-cost methods, including stimulating inactive or inefficient water injectors, to increase production and achieve operational efficiencies.
Phase one of the enhancement initiative contemplates Mid-Con stimulating water injectors on three of Mid-Con's leases: L. Wilson (7 injectors); Wilson A. (3 injectors); and Terbrock (1 injector), and on February 21st, 2017 S&B, specialists in formulating and operating water-flood enhanced oil recovery programs, scheduled all of such work with applicable service providers. The work is expected to be completed by March 3rd, 2017, weather permitting. It is estimated the stimulation program will improve production from these particular leases by 20 to 25%.
Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in North America. The company owns oil and gas leases in Alberta, Kansas and Missouri. The company's interests in Kansas and Missouri cover over 6,000 acres of property. Viking targets under-valued assets with realistic appreciation potential.
Viking is not an investment company, as defined by the Investment Company Act of 1940.
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