Saxon/Placid/Simonette
Saxon/Placid/Simonette
Saxon/Placid (>95% Working Interest)
- Saxon/Placid is the Company’s second Light Oil development area;
- First operated, commercial production anticipated in Q4 2012;
- Located 50 km west of Fox Creek, Alberta;
- 150,000 net acres (or 234 sections);
- High-graded Montney inventory of approximately 130 sections (>400 well locations);
- Duvernay acreage with > 20 m of net pay in 75 sections (>100 well locations)
- Nordegg exploration/appraisal work progressing;
- Current 2012 development includes the construction of a 10,000 bbl/d oil battery with 7 mmcf/d compression capacity and a portion of the 63 km, 12-inch gas pipeline; connected to the Simonette Gas Plant (a lateral line to Placid will be constructed in Q1 2013).
- Current Overall Asset Production Potential: > 40,000 boe/d (in-house management estimate)
Asset Target Milestones:
| 2012-Q1 | Winter drilling program – 6 Wells Drilled/Completed |
| April 2012 | Completion of 63 km, 12-inch gas pipeline to Simonette gas plant |
| 2012-Q4 | Completion of pipeline interconnect between Saxon and the 12-inch Simonette gas pipeline |
| 2012-Q4 | Start-up of Saxon gas processing facility |
| 2013-Q2 | Completion of pipeline interconnect between placid and the 12-inch Simonette gas pipeline |
| 2013-Q2 | Start-up of Placid oil battery and gas processing facility |
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