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OMERS |
Bids Due: November 22, 2011 at 12:00 noon MST |
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Contact: 403-299-8453
403-299-8449 |
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Introduction Letter |
Foreword & Disclaimer | Garrington Asset Sale Overview |
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GARRINGTON GLAUCONITIC DEVELOPMENT
Glauconitic Development
The Company owns the Glauconitic rights in 4,640 gross acres of land, with an average 98.3% working interest. Development opportunities include completing by-passed pay in a number of wells and potential infill drilling with horizontal wells.
The Glauconitic occurs as regional marine sand extensively across Company lands and historically has been the Companies major source of production from this field. The lands are fully developed on 160 acre spacing and the wells are included in the Card, Vik & Mann MU#1 commingled pool which covers several townships and a number of zones. Forty Glauconitic wells( current count), on and adjacent to Company lands, have in total produced 4.9 MMbbls of oil and 132 Bcf of gas to date. Production has been stable and exhibited low declines for the last 10 years. Water production has also been stable and is less than10 bbls/d for the entire well group. The lack of decline indicates that additional infill wells, possibly horizontal wells, might capture and accelerate additional reserves.
Four wells, located at 12-07, 12-08, 04-18 and 10-18-34-03, have additional un-perforated pay in the Glauconitic that could add production volumes and reserves.
