B.C. Operator is seeking a partner to develop a Triassic light oil pool on its property base in the B.C. Townships region. The pool size is estimated at 14 sections with 60 million barrels original oil in place. The Operator controls 4 sections in the center of the oil pool with the opportunity to acquire more of the pool lands.
The operator owns a production facility and several gathering lines within the pool boundary.
The reservoir (not the Montney) is an oil saturated zone with no bottom water. The target unit has been tested and recovered oil in several vertical completions within the mapped pool. Based on the recoveries the Operator has identified 5 potential recompletion opportunities in cased well bores on company controlled lands. Both the oil saturated zone and an associated gas zone will be dually completed as commingled production.
The cost to complete and equip each well is estimated at $160,000 and pays out in 4 months.
As a follow-up to this production base the operator has identified 12 horizontal locations on company lands with additional wells on option lands. Horizontal wells are estimated to have an IP of 300 to 500 bopd with an IRR > 100% and a payout less than 1 year.
This pool has the potential to be one of the top ten Triassic oil pools in western Canada.
Operator will require a Confidentiality Agreement be entered into prior to more detailed information being disclosed.
Deal terms are negotiable.
More information can be obtained by calling 403-262-7271 ext. #1