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Provost
Characteristics
2007 Exit Production:
NuVista: 4,300 boe/d
NuVista + Rider: 4,300 boe/d
Undeveloped Land Holdings: 90,600 acres (82% working interest)
Horizons: 10 horizons (less than 1,100 metres)
2007 Wells: 34 drilled or re-entered
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Our Provost area is located west of the Saskatchewan border approximately 250 kilometres northeast of Calgary.
Our 2007, average production rate was approximately 2,250 bbls/d of oil and liquids and 10.3 mmcf/d of natural gas. NuVista’s 2007 exit production rate was approximately 4,300 boe/d. This core area contains 90,600 acres of undeveloped land with an average working interest of 82%.
The northern portion of the Provost area has multi-zone potential and contains both medium-heavy oil and natural gas targets. In 2007, NuVista’s focus was the delineation of a pool extension in our Auburndale property based on 3D seismic and land acquired in 2005. NuVista’s four main oil properties produce oil ranging from 14°-26° API averaging 18° API.
The southern portion of this area contains ten prospective natural gas horizons at drill depths of less than 1,100 metres. The promising trends identified in 2006 were followed up in 2007 with several high deliverability wells. These successful wells have extended existing trends and led to potential new trends being identified seismically.
In 2007, we pursued both oil and natural gas opportunities in this core area with very good success. We drilled or re-entered 34 (29.1 net) wells and achieved an average success rate of 91%, resulting in 20 oil wells, 11 natural gas wells and 3 dry holes.
On January 8, 2008, we acquired oil properties located in the Provost core area, in close proximity to our Chauvin property. At the time of the acquisition, production averaged approximately 650 bbls/d of 23° API oil and is high working interest production that is operated by NuVista.
March 2008
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