AEC: Ladyfern to boost production by 75 MMcfd

April 17, 2001
Alberta Energy Co. Ltd. said its most recent discovery, due on stream in June, will boost its gas sales forecast for 2001 by more than 75 MMcfd to 1.4 bcfd-1.5 bcfd. AEC said the Ladyfern discovery, announced in February, will likely produce 100 MMcfd-150 MMcfd in the last half of 2001.


By the OGJ Online Staff

HOUSTON, Apr. 17 -- Alberta Energy Co. Ltd. said its most recent discovery, due on stream in June, will boost its gas sales forecast for 2001 by more than 75 MMcfd to 1.4 bcfd-1.5 bcfd.

AEC said the Ladyfern discovery, announced in February, will likely produce 100 MMcfd-150 MMcfd in the last half of 2001. The discovery well was expected to produce 60 MMcfd (OGJ Online, Feb. 21, 2001).

AEC has 100% of the British Columbian discovery, 100 km northeast of Fort St. John, and controls more than 33,000 acres in the area. The find will bring British Columbian production to more than 350 MMcfd.

"This is one of the most prolific gas discoveries in Western Canada in the past 15 years. We are now in the final stages of preparing to ship new volumes to energy-hungry markets in Canada and the United States," said Randy Eresman, president of AEC Oil & Gas.

Eresman said that during the past winter, AEC drilled nine deep wells in the remote location and constructed a pipeline and with a processing and gathering system capable of delivering 170 MMcfd. The project has so far cost $60 million (Can.), including $19 million for wells, $10 million for seismic data, and $31 million for facilities.

AEC also announced a gas sales target for 2002 of 1.55 bcfd-1.65 bcfd.