Calgary-based Canadian Superior Energy Inc. completed an acquisition of a major acreage position in northwestern Alberta, totaling 22 sections of contiguous land located “updip” of the main Ladyfern natural gas field, which complements previously acquired land in this “highly competitive” natural gas play.
Experts estimate Ladyfern’s reserves to be in excess of 1 Tcf, calling it one of the largest discoveries in Western Canada in the past 15 years. The Ladyfern field accounts for 4% of Western Canadian gas production. Canadian Superior said the Murphy/Apache Ladyfern discovery at A-097-H/094-H-01 tested at rates in excess of 100 MMcf/d of natural gas.
“We are very pleased with the Ladyfern acquisition which was done on a highly confidential basis,” said Greg Noval, president of Canadian Superior. Canadian Superior paid C$1.3 million for 10 sections of land, or C$488 per hectare, in Alberta’s Nov. 13 Alberta Petroleum and Natural Gas Land Sale. “The Ladyfern acquisition is based on extensive seismic data acquired and shot by Canadian Superior updip from the main Ladyfern field on the Slave Point carbonate bank during the fall of 2001 and winter of 2002 which has identified multiple Slave Point natural gas opportunities on our extensive holdings.
“A decision was made after the original Murphy/Apache Ladyfern discovery to concentrate on the acquisition of acreage updip and East of Ladyfern where little seismic data had been shot by industry,” he said. “Hence, we were able to acquire extensive acreage on a reasonable basis prior to industry focusing on this area. Several major Slave Point amplitude anomalies analogous to the main Ladyfern field have been identified on our acreage and we are very excited about this ‘world-class’ play.”
Canadian Superior announced it will be conducting a multi-well drilling program on the East Ladyfern acreage with drilling to commence over the next 6 weeks with the first test well to be located at LSD 2 of Section 07-92-11 W6M.
“The multi-well drilling program is part of a focused exploration and development program Canadian Superior is conducting in Western Canada, alongside the company’s strategy of developing its extensive holdings offshore Nova Scotia,” the announcement said.
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