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HIGHVALE/CARVEL OVERVIEW
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The Company owns an average 51% working interest in 7,471 gross (3,776 net) acres in the Highvale/Carvel area, ~65 km west of Edmonton, Alberta. The Company holds 40 to 100% working interests in four producing gas wells and one producing oil well in Highvale, and a 100% interest in a producing gas well in Carvel. Production is obtained from a number of formations including the Belly River, Glauconitic, Lower Mannville, Ellerslie and Banff. |
PRODUCTION
In total there are five producing gas wells with net production of 132 boe/d, reported for January 2011. This is made up of 6 bbl/d day of natural gas liquids and 755 Mcf/d of natural gas.
RESERVES
Proved Developed Producing reserves totalling 1,465 MMcf (Company Interest) were assigned to the gas wells based on decline curve analysis. Incremental Probable Producing reserves (lower decline) of 806 MMcf were also assigned to these wells. Associated natural gas liquids of 4.2 and 2.3 Mbbls were assigned to the Proved and Probable categories, respectively.
FACILITIES
Highvale gas is compressed and processed at the 07-14-052-04W5 (70%WI) refrigeration facility. Sales gas is transported to the ATCO Midstream entry point at 09-03-052-04W5. The 08-08- 052-04W5 well (100% WI) has wellhead compression. Gas from the single well at Carvel is processed at the 15-28-053-02W5 (100% WI) refrigeration plant.
MARKETING
All products have short term contracts. Sales gas enters the ATCO Midstream system at the Mayatan Lake #1677 meter station. natural gas liquids are trucked from the 07-14 facility to the Buck Creek NGL offload station.
GEOLOGY
Belly River: The Upper Cretaceous age Belly River Formation generally consists of a basal deltaic shoreline and shoreface succession overlain by coastal plain and floodplain deposits. Hydrocarbons are trapped stratigraphically as the porous sandstones pinch-out into surrounding marine shales or are truncated by post depositional shale filled channels.
Ellerslie: In this area the interbedded sandstones and shales of the Lower Cretaceous Ellerslie Formation were deposited as valley fill upon the eastern flanks of the Spirit River channel system. Hydrocarbons are trapped stratigraphically as the porous sandstones pinch-out laterally into overbankand levee deposits.
