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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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NORTH EASTERN ALBERTA - ASHMONT
LAND
The Ashmont property is located in North Eastern Alberta. In the greater Ashmont area, the Company owns a 92% working interest in 75,405 gross acres of land.
PRODUCTION
Company Share production averaged ~978 Mcf/d in June 2010 from the Ashmont field. 24 shallow gas wells produce from the Upper Mannville, Glauconitic, Viking, and Sparky Formations.
FACILITIES/INFRASTRUCTURE
The Company operates most of the gas wells with the majority of volumes gathered and processed at the CNRL Vilna/Cache 01-32-059-13W4 processing facility. Company ownership in the Vilna/Cache facility is 0.3244%.
MARKETING
Natural gas from the Ashmont field is sold into the Celtic Gas Pool, and delivered to the NOVA / TCPL system at two sales points. Oil/condensate is bought by Nexen on a short term contract.
RESERVES
The Ashmont property has 140 Mboe of PDP reserves, and 52 Mboe of PDNP reserves assigned. There are also 79 Mboe of Probable reserves associated with the property.
GEOLOGY
Upper Mannville Group: The Upper Mannville Group consists of numerous clastic packages that were deposited in a variety of fluvial and shallow marine environments. The Joli Fou shales unconformably overlie the Upper Mannville Group. The Upper Mannville Group unconformably rests on the Ireton marine shales. In the Ashmont/Edwand area the stratigraphic nomenclature from both the Central and NE Alberta Plains is applied and is illustrated on the schematic diagram below. Possible infill locations targeting both the Sparky and Colony Formations have been identified on Company Lands.
Glauconitic Formation: The Company has drilled five horizontal wells targeting heavy, ~ 12° API, oil in the Glauconitic reservoir. Four of the five wells have been completed. The 09-30-062-14W4 well produced 7 boe/d in May 2010 and is currently shut-in due to pump issues. The 05-32-062-16W4 well was rig released in July 2010, but has not been completed. The Company plans to complete this well utilizing new methods of fracture stimulation to assess the future viability of this oil play. Based on the results from this horizontal drilling program, several additional locations have been identified by geological mapping.
Viking Formation: The Viking sediments were deposited in a marine setting. Gas is produced from shelfal, transgressive sandstone deposits encased within marine shales. The reservoir sands have a gross thickness of up to 12m. Based on core analysis, the porosity ranges from 5 – 32% and permeabilities reach 950 mD.