PanCanadian budget to target 15% boost in gas output


PanCanadian Petroleum Ltd., Calgary, plans to spend $1.5 billion (Can.) in 2001, with 60% allocated to expand its natural gas activities in North America.

CEO David Tuer said the company expects to increase gas production by 15% in 2001 to almost 1.1 bcfd.

PanCanadian plans to drill more than 2,000 wells with 77% targeted for gas in western Canada and the US. It said 21 wells will be drilled outside the Western sedimentary basin, including four wildcats off eastern Canada, three in the Gulf of Mexico, and five in the UK central North Sea. Six development wells will be drilled in the Scott-Telford field in the North Sea.

The company's spending plans did not include funds to develop its 100%-owned Deep Panuke gas discovery off Nova Scotia. A decision on commercial viability of Panuke will be made during the first quarter.

Related Articles

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/24/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

Statoil makes gas find on flank of Visund field in North Sea

03/24/2014 Statoil Petroleum AS has made a natural gas discovery on the northeast flank of Visund field in the northern part of the North Sea, the Norwegian P...

CNOOC makes natural gas discovery in Bohai Bay

03/24/2014 CNOOC Ltd. has made what it describes as a “mid-sized” natural gas discovery in the Bozhong 22-1 structure in the south-central region of Bohai Bay.

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected