Access to the RBC Rundle VIRTUAL DATA ROOM requires registration by execution of a project confidentiality agreement. To register please contact Jill Switzer: 403 299 8446
Fall 2010 Asset Sale |
Bids Due: Nov. 10, 2010 |
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Primary Contact: 403-299-8447 |
Introduction Letter | Foreward & Disclaimer | Asset Sale Overview Northern Alberta: Overview | Utikuma | Minor Properties North Eastern Alberta: Overview | Ashmont Central Alberta (Non-Unit): Overview | Swan Hills/Virginia Hills & Judy Creek | Ferrier/Willesden Green | Minor Properties Central Alberta (Unit): Overview | Virginia Hills Unit | Leduc Unit South Central Alberta: Overview | Michichi | Drumheller | Richdale Southern Alberta #1: Overview | Bantry | Pekisko (Princess) | Mannville Waterflood Southern Alberta #2: Overview | Alderson | Bow Island Royalty Group: Overview | Properties |
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CENTRAL ALBERTA (UNIT) - VIRGINIA HILLS UNIT
The Company owns various working interests in several large Units in Central Alberta.
LAND
PRODUCTION
This package consists of light oil, non-operated units producing at Virginia Hills and Leduc. Company Share production is 111 bbl/d of oil/condensate and 195 Mcf/d of gas.
FACILITIES/INFRASTRUCTURE
Unit facility ownership.
MARKETING
Natural gas is sold into the Celtic Gas Pool and delivered to NOVA/TCPL.
Oil/condensate is sold to Nexen Marketing on a short term contract.
NGLs are sold to BP on an annual contract.
RESERVES
Total Proved Reserves of 302 Mboe is assigned to these units, with Total Proved Plus Probable Reserves being 494 Mboe.
DEVELOPMENT INVENTORY
The Virginia Hills Belloy-Shunda Units produce 32° API oil from the Belloy A pool, with estimated original oil in-place (OOIP) of 78 MMbbls. Recovery to date is 46 MMbbls or 59% suggesting the original reserve estimated was understated.
Since late in 2002 the Operator has increased water injection into the Virginia Hills Belloy-Shunda units by approximately 36%. As a result both Belloy and Shunda Units have experienced improved performance including reduced declines in oil production and decreasing Gas/Oil Ratios as the reservoir pressure increases.
The Virginia Hills Unit No.1 produces 38° API oil from the Beaverhill lake formation, with estimated OOIP of 529.3 MMbbls. Recovery to date is 160 MMbbls or30%.
