New Brunswick

By OGJ editors
HOUSTON, Mar. 30 – Southwestern Energy Co., Houston, won exploration licenses on 2.5 million acres in Canada’s Maritimes basin in New Brunswick in a provincial land sale.

The required work program calls for $47 million in investments in 3 years. It is the company’s first venture outside the US.

Apache Canada Ltd. signed a farmout and option agreement with Corridor Resources Inc., Halifax, NS, to pursue gas in Frederick Brook shale in southern New Brunswick, Canada in late 2009 (OGJ Online, Dec. 8, 2009).

Apache’s 18-month program of at least $25 million in spending is designed to evaluate the commercial potential of natural gas development in the Frederick Brook shale and light oil development at Corridor’s recent Caledonia oil discovery (OGJ, Dec. 7, 2009, Newsletter; OGJ Online, Mar. 27, 2009).