Nextraction Energy Corp. is a Canadian junior oil and natural gas company engaged in the exploration and development of oil and natural gas resources in the Western Canadian Basin. The Company's model is the "next round of extraction on known plays." Nextraction targets oil focused projects along trends with known reserves that provide low risk, high return development opportunities in both conventional and unconventional resource projects.
The Company is currently producing light oil from the Viking formation at its Provost property in east central Alberta. The Viking is a well-defined “resource style” play, where accumulations of oil are known and have been developed for many decades using vertical wells. The implementation of new technology via horizontal wells and multi-stage fracturing allows Nextraction to significantly increase the recoverable reserves and production from the property. The company also has a liquids-rich natural gas play along the prolific Pinedale Anticline in western Wyoming, USA.
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Nextraction is engaged in horizontal drilling and multi-stage fracing operations at our Provost project for light oil from the Viking formation. The video below provides an animated view of the process involved in developing reserves using this technique.
