Latest from tlm on foothills gas plays and turner valley, home of bea and eee as well, note that eee has based their strategy almost in sync with tlm. FYI
Talisman Energy Inc. announced that gas production from its Alberta Foothills properties increased by 88% in 1999. The company also announced eight successful gas wells in the Alberta Foothills during the fourth quarter and a significant new gas discovery at Monkman in the British Columbia Foothills.
In 1999 Talisman spent $67 million and drilled 13 successful wells (100% success rate) in the Alberta Foothills. Production averaged 67 mmcf/d. Capital spending in 2000 will be $112 million, with participation in 22 wells. Production targets are 78 mmcf/d in 2000 and 110 mmcf/d for 2001.
Talisman's Canadian gas production during the fourth quarter averaged 773 mmcf/d, an increase of 14% from fourth quarter 1998. The company will spend a record $525 million on Canadian exploration and development in 2000 (up 60% from last year) participating in 530 wells. Approximately 80% of the capital
program is directed at natural gas opportunities. Domestic gas production will increase approximately 20%, to average 816 mmcf/d in 2000.
"Foothills gas has become a major part of our Canadian strategy," said Dr. Jim Buckee, President and Chief Executive Officer. "Much of the remaining gas potential in the Western Canadian Basin will be found in the deeper, technically challenging, higher cost plays. Talisman has emerged as one of the industry leaders in terms of the number of deep wells drilled, success rates and pacesetting drilling costs."
ALBERTA FOOTHILLS
Talisman participated in a record eight horizontal wells in the Mississippian Turner Valley formation (seven new drills and one re-entry) in the Northern Alberta Foothills during the fourth quarter of 1999, with a 100% success rate. Six of these wells have been tested, all at initial rates in excess of 14 mmcf/d. The remaining two wells have not finished testing. The six wells will add an estimated 27 mmcf/d of initial net production capability to Talisman's Foothills production base.
Individual well test results are summarized below:
Well Working Interest % Test Rate
(mmcf/d)
TLM et al Stolberg Hz 7-23 77.8 14.5
Suncor et al Brown Creek 14-26 47.8 18.6
TLM et al Cordel 5-30 40.0 15.5
TLM et al Hz Bighorn 3-27 38.3 14.1
PC et al Basing 4-19 20.0 26.0
Suncor et al Stolberg 6-3 20.0 20.1
Five of these wells will be tied in to existing pipeline infrastructure and should be on stream before the end of the first quarter 2000. A further five wells are currently drilling with an additional five wells expected to spud before the end of the first quarter.
A map showing the location of these Foothills wells can be found on the Talisman website under press releases. |
