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Lycos Energy Inc. Announces Initial Results from Moonshine Well, 2026 Capital Budget and Appointment to Board of Directors
Calgary, Alberta--(Newsfile Corp. - April 22, 2026) - Lycos Energy Inc. (TSXV: LCX) (" ...
About this update from Lycos Energy Inc
[{"type":"text","content":"Lycos Energy Inc. Announces Initial Results from Moonshine Well, 2026 Capital Budget and Appointment to Board of DirectorsCalgary, Alberta--(Newsfile Corp. - April 22, 2026) - Lycos Energy Inc. (TSXV: LCX) (\"Lycos\" or the \"Company\") is pleased to provide an operational update on its recently drilled Moonshine well in East Central Alberta and outline its 2026 capital budget.2026 Capital BudgetLycos has approved 2026 capital expenditures(1) of $35 million to $40 million, focused on the continued development of its Mannville heavy oil assets in East Central, Alberta. The program is expected to support the drilling of approximately 15 to 20 gross (15 to 20 net) wells, primarily targeting the Moonshine area, with additional activity planned across the Company's broader East Central, Alberta land base.The 2026 program is designed as a disciplined, proof-of-concept phase, with the Company planning to drill initial wells across several pads to delineate the asset base. This approach is expected to provide key reservoir and operational data to optimize future development. As additional pads are developed, Lycos expects to return to these locations with multi-well programs, supporting improved capital efficiencies.Drilling activity is expected to commence in the second quarter, with the majority of activity concentrated in the latter part of the quarter and into the second half of the year, positioning the Company to deliver exit production of approximately 2,500 to 3,000 boe/d.In addition to drilling, the program includes continued investment in waterflood optimization and facility infrastructure to support base production and improve capital efficiency across the asset base.Lycos remains focused on executing a disciplined development program while advancing its inventory of high-quality Mannville drilling opportunities. Results from the Moonshine well are expected to support future development planning and capital allocation decisions throughout 2026.Moonshine Well UpdateIn March 2026, the Company drilled one gross (1.0 net) single-leg circulating string well in the Moonshine area targeting the Mannville formation. Since being brought on production, the well has demonstrated increasing production rates with associated sand production consistent with expectations for the reservoir. The well achieved a 30-day initial product...