Northwest Territories

Paramount Resources Ltd., Calgary, plans to drill as many as eight operated oil wells in the Cameron Hills field area of Canada’s Northwest Territories in 2010.

By OGJ editors
HOUSTON, Mar. 11
– Paramount Resources Ltd., Calgary, plans to drill as many as eight operated oil wells in the Cameron Hills field area of Canada’s Northwest Territories in 2010.

It expects to complete and tie in the first well in the first quarter. The rest are to be completed in the first quarter of 2010 and tied in during 2011. Production and follow-up development drilling associated with these wells will occur in later years, pending an evaluation of the 2010 drilling results (OGJ Online, Sept. 21, 2006).

The company’s northern operating unit, which includes Cameron Hills, Fort Liard, and properties British Columbia and Alberta, had sales of 14.7 MMcfd of gas and 548 b/d of crude oil and natural gas liquids in 2009, down 21% from 2008 due mainly to natural declines and secondarily to the shut-in of properties. Capital spending was $8 million in 2009 excluding land.

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