Canada's High Arctic to see renewed E&D

Four Calgary-based companies will spend $182.5 million (Can.) on exploration and development of new leases in the Mackenzie Delta region of Canada's High Arctic.Petro-Canada and Anderson Exploration Ltd. will spend $105.2 million to explore two properties in the Mackenzie Delta area over the next 5 years, with Petro-Canada holding a 60% interest and Anderson 40%. The companies have leases covering 897,000 acres.Petro-Canada said it will gather and analyze seismic data before beginning a drilling program in 2001 or 2002.Poco Petroleums Ltd. and Burlington Resources Ltd. will spend $78 million over 5 years exploring and developing two parcels. Burlington agreed in August to buy Poco for...

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