Deep rights licensing to spur drilling on Alberta's Suffield Military Range

Alberta Energy Co. Ltd.'s AEC Oil & Gas partnership said it could recover 25-50 million bbl of oil ultimately from lands it acquired in April on the active Suffield Military Range in southeastern Alberta.AEC, Calgary, paid $63 million for 200,000 acres of deeper oil and gas rights, some 70% of the Crown lands offered.The company has added $260 million to its planned capital expenditures on the range the next 2 years for the drilling of 1,000 gas wells and 130 horizontal wells. Drilling on the lands just acquired will help sustain the company's 190 MMcfd of gas production at Suffield and could double its existing 16,000 b/d of oil production on the range within 5 years, said Randy ...

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