Unbridled Energy’s stock continued to outperform the Oil & Gas industry by closing at its high-of-day at $0.55, with volume totaling over 550,000 traded shares. The stock has been on a solid uptrend since the beginning of this month.
Recently the company provided a drilling update on its Option Well located at 16-21-41-11 W5M in the gas and condensate Chambers/Ferrier area. The well was spudded a month ago by Unbridled and its partner. The company specifically mentioned that the drilling costs were within budget, and that the well reached its intended depth of 3,290 metres.
As announced previously, the Company holds an average 35% working interest in 16 sections with an option on an additional six sections in the Chambers/Ferrier area. Unbridled Energy holds a 58.5% working interest in the 16-21 Option Well, and is now able to earn an interest in an additional three sections of land and an option to earn the remaining three sections with a second Option Well.
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