1 Min Read
April 17 (Reuters) - Canadian light oil producer WestFire Energy Ltd's quarterly output more than trebled as it drilled more wells in its Viking project in Alberta and Saskatchewan.
WestFire, which has been exploring strategic alternatives since late last year, also said it has opened its data room to help interested parties evaluate the company.
First-quarter production averaged 8,900 barrels of oil equivalent per day (boepd), compared with 2,773 boepd a year ago. The output from Viking made up almost half of the total in the latest quarter.
WestFire drilled 57 horizontal wells in Viking during the quarter, compared with 14 last year.
Barring a 28-day shutdown at one of its natural gas plants in Alberta, output would have averaged about 9,600 boepd, the company said in a statement on Tuesday.
Shares of the company closed at C$5.05 on Monday on the Toronto Stock Exchange.