PEL - Purcell Energy Message Board

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Gold/Mining/Energy : PEL - Purcell Energy

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To: pud* who started this subject	11/1/2000 5:58:18 PM
From: rajaggs	Read Replies (1) of 165

BIG BIG BIG gas well comes on stream. >> Chevron and Partners Flow Natural Gas from Second Well at Fort Liard biz.yahoo.com CALGARY, Nov. 01 /CNW/ - Chevron Canada Resources and partners today announced that "first production" and sales of natural gas flowed from its M-25 well located 21 km northwest of the Hamlet of Fort Liard, Northwest Territories (NWT). Consistent with good "start-up" operating practices, Chevron plans to begin producing at 35 million cubic feet of "raw" natural gas per day and ramp-up production over seven days to 50 million cubic feet per day. Production will be held at 50 million cubic feet per day for approximately one month. A decision on further rate changes will be made after this initial period. The facility and well completion design have the capacity to handle rates up to 75 million cubic feet per day. Jim Simpson, President of Chevron Canada Resources said, "We are pleased to be delivering gas to very strong markets one month ahead of schedule. Production from these prolific wells meets several major goals for Chevron. It strongly positions our company in an exciting new region and provides an excellent balance to our existing producing assets in Western Canada and offshore East Coast." Simpson added, "But perhaps most importantly, it has allowed the people of Chevron to enter into a strong and long-term relationship with the community of Fort Liard where we have had opportunities to enhance our appreciation and understanding of how diversity and aboriginal culture adds value to our business." M-25 is the follow-up well to the K-29 discovery well drilled by Chevron at Fort Liard in 1999. M-25 is located about eight-km south of K-29. Natural gas is produced from M-25 and transported through a 4.5 km Chevron built pipeline where it "ties in" to an existing pipeline (built by Chevron earlier this year) that transports natural gas from the K-29 well to processing facilities at Westcoast Energy's gas plant in Fort Nelson, British Columbia. There, the gas is processed and sent into the "sales" gas pipeline system. Chevron's K-29 well has been on production since April 2000 and has produced more than 10.5 billion cubic feet of raw natural gas. Production at K-29 is currently about 70 million cubic feet per day. Interests in M-25 and K-29 wells include: Chevron (as operator) - 43.4318%; Purcell Energy Ltd. - 24%; Berkley Petroleum Corp. - 21%; Anderson Resources - 4.1%; Paramount Resources Ltd. - 2.7602%; Ranger Oil Limited - 1.197%; Canadian Natural Resources Inc. - 0.90736%; Numac Energy Inc. - 0.82%; AEC Oil and Gas - 0.336%; Talisman Energy Inc. - 0.21% and other interests at 1.23764%.<< Great stuff.!!

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