Calgary-based Canadian Superior Energy Inc. announced two new natural gas discoveries in Western Canada in the Watts and Craigmyle areas of east central Alberta. The two new wells were tested at 11.2 MMcf/d and 6.5 MMcf/d of gas, respectively. The company said it expects that the wells will be tied in for production within the next 30 days. Greg Noval, president of Canadian Superior, said that the company is maintaining an “extremely active” developmental drilling program in this area this winter, and in addition, is proceeding with high impact exploration plays in the Windfall area of west central Alberta and East Ladyfern area of northwestern Alberta. The producer also is excited about its activity on the Mariner block, located offshore Atlantic Canada. The Mariner I-85 well — a high pressure high temperature well that is one of the deepest wells that will be drilled this year in North America — is proceeding ahead on schedule, and will take about another four weeks to drill to its targeted total depth of 18,370 feet at a total budgeted cost of US$30 million. The well is located 180 miles southeast of Halifax, NS. The company said three large “world-class” prospects with estimated potential reserves of 2.5 Tcf of natural gas have been identified for drilling on the Mariner block utilizing high-resolution seismic. The block encompasses a total area of 101,800 acres and directly offsets five significant discoveries near Sable Island including the 1.6 Tcf Venture natural gas field. El Paso Oil & Gas Canada, Inc. is participating in Mariner by paying two-thirds of the costs to earn a 50% interest.
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Articles from Areas
MMS Establishes Rules for Offshore Easements
A new rule for oil and gas production in federal offshore waters now provides rights-of-use and easement, allowing companies easier access to areas adjacent to their leases, according to the Minerals Management Service (MMS).
Cold-Induced Upticks Gain Momentum With West Joining In
With nearly all areas outside a strip along the Gulf Coast and parts of the Southwest doing some serious chilling out Tuesday, prices again made big gains. Although the Northwest relaxed a bit from the dollar-plus upticks it had seen Monday, Tuesday’s strength was more solidly based because of significantly larger advances in non-Northeast markets and a lack of weakness in the West.
Most Points Backtrack, But Some Flat to a Tad Higher
After rallying Wednesday because some areas would be turning colder by the weekend, prices seemed to be having second thoughts about the situation Thursday. The result was a cash market resembling the ones that ended last week and began this week: a mixture of moderately higher and lower numbers that was dominated by declines.
Land Access for E&P Can Save Consumers $300 Billion
Increased access to U.S. resources, “including wilderness and national park areas, for exploration and production could save $300 billion in natural gas bills over 20 years,” an Energy Department official said Thursday.
Montana Sued Over Coal Bed Methane Development on Environmental Concerns
Stating that a state-approved coal bed methane plan unconstitutionally allows methane companies to waste billions of gallons of groundwater and violate air and water quality standards, the Northern Plains Resource Council has filed a lawsuit against three Montana agencies.
Montana Sued Over Coal Bed Methane Development on Environmental Concerns
Stating that a state-approved coal bed methane plan unconstitutionally allows methane companies to waste billions of gallons of groundwater and violate air and water quality standards, the Northern Plains Resource Council has filed a lawsuit against three Montana agencies.
Talisman Buys Vista Midstream to Bolster its Deep Basin Play
Vista’s assets are located in three operating areas: Cutbank in northwestern Alberta near Talisman’s Deep Basin play, Retlaw/Enchant/Turin located in southeastern Alberta and Freefight in southwestern Saskatchewan. The Cutbank complex is Vista’s major asset, representing two-thirds of its revenue and value. Talisman has entered into a firm agreement for the sale of the assets at Retlaw/Enchant/Turin for $30.5 million and is in negotiations for the sale of the Freefight assets.
With Weather Forecasts and Technicals in Agreement, Futures Continue Higher
Buoyed by forecasts for a warm-up in key eastern areas of the country and in concert with supportive technical factors, natural gas futures were higher Monday morning on a mix of fund short-covering and commercial trader buying. The September contract received the biggest boost, soaring to a new, one-month high of $5.22 just before noon. Afternoon profit-taking trimmed the market’s advance, leaving the prompt month to close at $5.129, up 9.2 cents for the session.
Transportation Notes
Northern Natural Gas extended through at least Sunday the System Underrun Limitation for all market areas that had been previously declared for Saturday’s gas day (see Daily GPI, July 25).
