After estimating last month that total Canadian natural gas production would fall or rise by year-end within a margin of -1% or +1%, Lehman Brothers analysts scuttled those predictions and now forecast a “worst-case scenario,” which drops annual production by at least 1% and as much as 3% over 2001. The loss compares to the 6% annual increase experienced in 2001, and is attributed to the striking falloff in production at the once prolific Ladyfern discovery.
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Ladyfern Play Has AEC Re-estimating 2001 Gas Sales
Due to its sizeable Ladyfern natural gas discovery in northeast British Columbia, Alberta Energy Company Ltd. (AEC) said on Tuesday that it is increasing its 2001 gas sales forecast by an average of 75 MMcf/d for the entire year. AEC expects Ladyfern to begin flowing to market within weeks. Daily production from Ladyfern is expected to average from 100 to 150 MMcf/d during the last half of 2001.
April 18, 2001
Transportation Notes
After previously estimating that an outage of most production onMatagorda Offshore Pipeline System due to a line leak would last untilnext Wednesday (see Daily GPI, Sept. 10), MOPS operator Northern NaturalGas said leak repairs were completed Friday morning, two days afterthe outage began. Only about 15 MMcf/d remained shut in, a spokesmansaid, and that was expected to be restored late Friday afternoon.
September 13, 1999
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