By OGJ editors
HOUSTON, Apr. 19 -- Magnus Energy Inc., Calgary, lined up a rig and plans to drill 18 wells in 2006 near a light oil discovery in Devonian Torquay dolomite in the Williston basin near Antler, Sask.
Without giving figures, Magnus said it believes the greater development "has the potential to rank with the top conventional fields found in the Prairie provinces in terms of original oil in place and recoverable reserves."
If, as Magnus management interprets, Antler field is part of a large regional stratigraphic trap, the seven wells Magnus has drilled could extend the productive Torquay trend by at least 10 miles from existing production at Sinclair, Man.
Further, the estimated overall size of the new field could be 250 sq miles. More than 280 wells have been drilled in the play to date, according to public information.
Magnus said the Torquay reservoir is 1,050-1,150 m deep and 2 to 5 m thick. The company has acquired more than 46,100 gross (24,700 net) acres of freehold and crown land near the Antler discovery.
Four Magnus wells were producing a combined 75 b/d before spring breakup, and the other three were in completion. The company estimated that production from its Antler lands will be 900 boe/d gross by yearend.
The company's Antler wells are classified as vertical deep oil wells and qualify for royalty-tax incentive volumes that range from 50,000 to 100,000 bbl/well.
