In anticipation of drilling and developing the 4,900 acre Weber City Prospect, FormCap Corp. announced today that it is establishing itself as an Operator in the State of New Mexico.
This move will provide the company with complete control over operations on wells developed on its prospects. Achieving Operator status will eliminate the need for third party contracting of these services.
“Having complete operational control over production on our prospects will eliminate the need for Third Party contracted services, improving the over-all economics of prospects developed in New Mexico,” stated Graham Douglas, FormCap’s President & CEO.
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