AEC says Ladyfern discovery boosts production by 150 MMcfd

Alberta Energy Co. Ltd. reports its Ladyfern gas discovery in northeast British Columbia went on stream May 17 and is producing more than 150 MMcfd. AEC said the addition of Ladyfern has increased company production to more than 1.5 bcfd, the first Canadian company to reach that production level.


By an OGJ Online Correspondent

CALGARY, June 18 -- Alberta Energy Co. Ltd. (AEC) reports its Ladyfern gas discovery in northeast British Columbia went on stream May 17 and is producing more than 150 MMcfd.

AEC owns 100% of the field, in a remote area 62 miles north of Fort St. John, BC.

It said Ladyfern has increased the company's production to more than 1.5 bcfd, making it the first Canadian company to reach that level. AEC was already Canada's largest gas producer.

AEC said its daily production is now 40% higher than the average for 2000. It expects sales in the second quarter to average 1.2 bcfd and hit 1.9 bcfd by yearend. It also expects to inject about 13 bcf of gas in the second quarter in a storage facility in southeast Alberta.

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