Delphi to buy Alberta properties, infrastructure

By OGJ editors
HOUSTON, Aug. 14
-- Delphi Energy Corp., Calgary, announced earlier this month it will buy some natural gas properties in the Gold Creek and Wapiti areas of northwest Alberta for $11.8 million (Can.). These properties are between Delphi's Hythe and Bigstone properties.

Delphi also said it will dispose of 40% of the acquired working interest in the properties to an unnamed third party following close of the acquisition at the end of this month.

The purchase brings with it the following:

-- Incremental production of 400 boe/d, consisting of 77% natural gas and 23% oil and NGLs, and proven-plus-probable reserves effective May 31 of more than 1.4 million boe.

-- Ownership in three natural gas processing plants with combined throughput capacity of 720 MMcfd, 10 compressor stations, and 393 km of gathering and transportation pipelines. The gas plants are the Devon Wapiti Deep Cut gas plant, Devon Wapiti Shallow Cut gas plant, and BP’s South Wapiti gas plant.

-- Reserves and production-acquisition costs, excluding about $1 million allocated to undeveloped land.

These costs include, according to the announcement, proved reserves excluding future development capital of $12.61/boe; proved reserves including FDC of $19.82/boe; proved-plus-probable reserves excluding FDC of $7.43/boe; proved-plus-probable reserves including FDC of $12.48/boe; and production addition costs of $26,000/flowing boe.

The purchase, Delphi said, will increase its undeveloped land position by 8% to about 135,000 net acres. Delphi has internally valued this undeveloped land at about $1 million, it said.

Related Articles

OMV to ramp up drilling in lower Austria

04/08/2014 OMV AG reported it will drill as many as 24 wells this year along with 20 wells in 2015 and 2016, respectively, in the Weinviertel region of lower ...

Laclede Group to acquire Alagasco for $1.6 billion

04/08/2014 Laclede Group Inc., St. Louis, has entered into an agreement with Energen Corp. to acquire subsidiary Alabama Gas Corp. (Alagasco) for $1.6 billion...

OIES: US shale gas, tight-oil plays face financial woes

04/07/2014 Financial problems of operators in US shale gas and tight oil plays might hold production growth below current expectations, according to the autho...

Anadarko settles legacy claims against Kerr-McGee for $5.15 billion

04/07/2014 Anadarko Petroleum Corp. and subsidiaries it acquired when it bought Kerr-McGee Corp. in 2006 agreed to pay $5.15 billion to settle fraudulent conv...

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