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
Progress Energy
Winter 2010/2011 |
Bids Due: Jan. 17, 2011 |
PDF IM
|
Primary Contact: 403-299-8453
|
Introduction Letter | Foreward & Disclaimer | Asset Sale Overview Fort St. John North: Overview | Beaverdam | Currant | Minor Properties Fort St. John South: Overview | Two Rivers | Stoddart | West Eagle | Flatrock | Teal Ojay: Overview | Area Activity | Nikanassin Development Potential | Cadotte/Falher Development Potential Copton: Overview | Geology & Area Activity | Cardium Development Potential | Cadotte Development Potential Two Creek: Overview | Jurassic 'A' and 'B' Pools | Jurassic 'A' Pool - ASP Upside Potential | Gething |
|||
COPTON - OVERVIEW
COPTON WORKING INTEREST - HIGHLIGHTS
|
COPTON ROYALTY INTEREST - HIGHLIGHTS
|
 |
LAND
Copton Working Interest (WI): This area is located in west central Alberta near the British Columbia border. The Company maintains 51,840 gross acres within the Copton WI area. The working interests range on the lands from 18% to 100%, with an average of 79%. Mineral rights vary but generally include PNG to the base of the Cardium.
Copton Royalty Interest (RI): The Company owns 12,800 gross acres of royalty interest land. More than half of the total acreage is undeveloped.
PRODUCTION
Copton WI: Production from Copton WI is primarily liquids rich gas (~14 bbl/MMcf). Copton produced ~1,430 boe/d from 33 wells as of September 2010. The majority of the wells are operated and the remaining are operated by Talisman, Peyto, or Devon. Approximately 1,312 boe/d is gas and 118 boe/d is oil/NGLs.
Copton RI: Production comes from four producing wells and is currently 441 Mcf/d with no associated liquids.
|
|
RESERVES
Copton WI: The Copton WI area has Total Proved reserves of 4,006 Mboe consisting of 343 Mbbl of oil/NGL plus 21,978 MMcf of gas booked by GLJ Petroleum Consultants. An additional 1,177 Mboe of Probable Producing reserves and 1,554 Mboe of Probable Undeveloped reserves were also assigned for Total Proved plus Probable reserves of 6,737 Mboe.
Copton RI: Total Proved reserves of 106 Mboe are booked to five wells, four of which are producing. Additional Probable reserves were booked under the assumption of a higher recovery percentage. Total Proved plus Probable reserves are 179 Mboe.
FACILITIES
In the Copton/Lynx Field, the Company owns a 90% share of a central compressor station located at 01-24-060-08W6. This station collects gas from the majority of the Copton/Lynx Field, and delivers it at high pressure along with condensate to the pipeline connected Pembina Midstream Gas Plant (Cutbank) located at 07-16-062-08W6.
The Cutpick Field produces gas to a Company-interest compressor station located at 13-35-059-06W6 (90% WI), and is then delivered at high pressure along with condensate to the Pembina Musreau Lake Gas Plant located at 04-25-062-06W6. The Company also holds a 5% working interest in the Cutpick Energy operated plant at 02-21-060-08W6.
MARKETING
Copton/Lynx: The Company holds transportation agreements with TCPL/Nova to deliver gas volumes at the Pembina Midstream Gas Plant (Cutbank). Natural gas liquids are purchased by Keyera at Pembina Midstream on a one-year term contract with an evergreen clause.
Cutpick: The Company holds transportation agreements with TCPL and Nova to deliver gas volumes at the Pembina Musreau Lake Gas Plant. Natural Gas Liquids are purchased by Keyera on a 1 year contract with an evergreen clause.
Pembina is constructing a “Deep Cut” process at the Musreau Plant which is expected to come on stream in July 1, 2011. Pembina’s NGL recovery efficiencies are expected to match those of the Devon Wapiti Plant. The improved NGL yields from the Deep Cut Process at the Musreau Plant will increase the value of the Company’s gas by an estimated $0.40/Mcfe.
SEISMIC
The Company has ~257 km2 of 3-D trade data and ~232 km of 2-D trade data over the lands at Copton.