Northwestern Alberta/Foothills
Galleon plans to complete a Kakut Doig horizontal well in the first quarter with a cemented liner system using a higher fracture density than previously deployed. Based on field estimates, Galleon said that fourth quarter 2010 production averaged 13,525 boe per day. For the same period a year prior, the company averaged 14,688 boe per day. Galleon said production was affected as it experienced delays in obtaining fracture crews and equipment. This resulted in certain newly drilled wells being completed and brought on stream up to
three to four weeks later than initially forecasted. In January 2011, the company entered into a strategic agreement to contract equipment and crews for the majority of its currently planned completion activities through to the end of third quarter 2011. Currently, the company has three drilling rigs working and plans to drill up to 19 wells in the first quarter. Estimated capital expenditures of approximately $33 million have been allocated to the drilling program for the period. These expenditures are expected to be funded by working capital and cash flow.
During t he t hree mont hs ended Dec. 31, 2010, 14 (12.75 net) wells were drilled and cased for production resulting in five (five net) natural gas and nine (7.75 net) oil wells, for a success rate of 100 per cent. As previously announced, Galleon will spend $131 million this year with 70 per cent of that directed to oil projects. The focus of its first quarter 2011 capital program will be on the continued development of its light oil and natural gas projects in the Kakut, Eastern Montney and North Peace River business units. — DAILY OIL BULLETIN
Deep Basin–developed fracture fluid tank system goes continental Open Range Energy Corp. says Poseidon Concepts (a wholly owned business unit) is deploying its innovative fracturing fluidhandling system in the United States after achieving success among customers in
western Canada. Open Range is a Calgarybased junior producer that has ventured into the service sector. Poseidon designs, manufactures and operates a patent-pending modular, insulated
tank system that was tested and rolled out by Open Range personnel at its core Ansell/ Sundance Deep Basin property. The experimental system was deployed on several liquids-rich natural gas wells in early 2010.
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MARCH 2011 • OIL & GAS INQUIRER