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The Ferrier/Sunchild core area is approximately 200 kilometres northwest of Calgary, Alberta, and includes both the Ferrier and Sunchild properties. Natural gas production in the Ferrier/Sunchild area is processed at third party facilities, primarily the Keyera Nordegg and the Keyera Strachan gas plants. These large plants provide both favourable liquid recoveries and low operating costs for our production.
This core area has an undeveloped land base of approximately 21,000 acres with an average working interest of 77%.
Our production in this area comes from liquids-rich natural gas wells. This production is mature and possesses some of the lowest production decline rates in the company. NuVista recently acquired overlapping land and production interests in this area. The acquisition which closed on January 29, 2009, added approximately 800 Boe/d of low decline production to this core area.
Our 2008 average production rate was approximately 2,729 Boe/d (13.1 MMcf/d of natural gas and 552 Bbls/d of oil and liquids). The 2008 exit production rate was approximately 3,170 Boe/d.
In 2008, we drilled or re-entered 3 (2.2 net) wells, yielding 3 natural gas wells.
May 2009 |
