By OGJ editors
HOUSTON, Jan. 5 -- Compton Petroleum Corp., Calgary, has budgeted $575 million (Can.) for 2006 capital spending, focusing on an accelerated drilling program of 480 gross wells.
In southern Alberta, Compton plans to drill 245 wells to target Plains Belly River gas and Edmonton Horseshoe Canyon coalbed methane. It also has more than 70 existing Belly River wells scheduled for coalbed methane recompletion in the Edmonton formation.
The remainder of the southern Alberta drilling will primarily target the Basal Quartz formation at Hooker and the Belly River foothills play at Callum.
The company budgeted $73 million for 60 gross wells in central Alberta, $120 million for 105 wells in the Peach River Arch, and $21 million for 10 wells in other areas.
The budget includes $71 million for land acquisition and seismic surveys in Compton's major operating areas.
The company expects production to reach 40,000 boe/d by December 2006.