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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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SOUTHERN ALBERTA #1 - BANTRY/PEKISKO (PRINCESS)
LAND
The Bantry interests are located in South Central Alberta. The Company owns a 77% working interest in 7,590 gross acres of land.
PRODUCTION
Total Company Share production is 325 boe/d (85% oil) from 13 Pekisko oil wells (100% WI), and 18 Lower Mannville oil wells (50% WI). This operated, medium oil asset has upside potential for horizontal oil development within the Pekisko Formation. There is also a gas well (behind pipe) expected to come on stream in October at rates of 1,500 Mcf/d (09-05-018-14W4).
FACILITIES/INFRASTRUCTURE
The Company owns two oil batteries (50% and 100% working interest.) The 06-19-019-12W4 Princess oil battery accepts production from 15 Pekisko oils wells that are pipeline connected. Solution gas is conserved via compression/dehydration facilities at the 06-19 battery. Two 100% working interest Pekisko wells (13-19-019-12W4 and 12-19-019-12W4) are used for water disposal and pressure maintenance.
The 15-23-018-14W4 Bantry Sour Oil Facility (50% working interest) handles production from 18 Mannville oil wells. All of the wells are located on three pads, and are connected to the battery by two pipelines. Solution gas is conserved.
MARKETING
Gas from the Princess facility is sold through the Celtic Gas Pool and delivered to NOVA/TCPL at the AltaGas Plant. Oil is sold to Plains Marketing and Nexen Marketing on short term contracts.
RESERVES
Total Proved reserves of 1,264 Mboe and Total Proved Plus Probable reserves of 1,879 Mboe have been assigned to the property.
DEVELOPMENT INVENTORY
There are five horizontal locations identified that target oil in the Pekisko Formation, and two horizontal locations that target gas in an Upper Mannville Channel. In the Mannville EE Pool, two injector conversions have been identified to enhance rate and recovery.