(Camarillo, Ca) With oil at $73/ barrel, California’s oil rich topography allows local Ventura County companies such as BNK Petroleum (TSX: BKX) to make the most of it’s assets.
“Our incremental netbacks for these wells are estimated to be over $41 USD a barrel, which represents a substantial contribution to the Company’s cash flow,” the company announced.
One of the companies wells generates 145 barrels of oil equivalent a day, with 130 barrels being oil.
BNK, an international oil and gas exploration and production company, focuses on finding and exploiting large, predominately unconventional oil and gas resource plays. Through its subsidiaries, the Company owns and operates shale oil and gas properties in the United States. Additionally, the Company is utilizing its technical and operational expertise to identify and acquire additional unconventional projects.
BNK Petroleum Inc shares are traded on the Toronto Stock Exchange under the stock symbol BKX and on the OTCQX under the stock symbol BNKPF.
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