- After a banner year in 2022, Prospera Energy remains poised for rapid growth in 2023; Prospera Energy Inc. recently announced the start of a 10-well horizontal drilling campaign that is intended to capture significant remaining heavy oil reserves
- The company aims to demonstrate that the coexistence of growth and sustainability is possible; seeks to capitalize on the high-margin potential of its core Canadian properties while steering the oil industry towards greener oil operations and a more sustainable future
- The company’s high aspirations come amid a burgeoning oil and gas market in Canada, for which 2023 is expected to be one of the pivotal moments
Following its transformational efforts in 2022, Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation and development company focused on Western Canada, appears poised for record growth in 2023. Building on the success from 2022, when the company realized a Net Income of $3.1 million and experienced rapid growth when its revenue grew by a staggering 860% in Q2 2022. Prospera Energy expects significant reductions in production costs through 2024 and sizable increases in daily production. The company is currently exploring strategic acquisition targets to diversify Prospera heavy/light/gas product mix and path to 5,000 BPD over the next 24 months while expanding its reserve base to a billion barrels (https://ibn.fm/mYttq).
The company recently announced the spudding of the first horizontal well of the ten well modular multi-pad infill drill program, which is intended to accelerate production and recovery to capture the significant remaining heavy oil reserves (400 MMBBL). Stemming from a comprehensive geological, seismic, and…
NOTE TO INVESTORS: The latest news and updates relating to GXRFF are available in the company’s newsroom at https://ibn.fm/GXRFF
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