Drilling Rights - Husky Energy revealed itself as a big buyer at last week's British Columbia land sale that saw mostly anonymous bidders plunk down $370 million for drilling rights.
In a news release, Calgarybased Husky said it bought almost 10,000 hectares for an undisclosed sum.
The new acreage will form the basis of an expanded push into tight gas, CEO John Lau said in a news release. "These results are encouraging for Husky to expand its strategy in unconventional resource play development in this area. The acquisition enhances Husky's position in the Doig/ Montney play, which has become one of North America's most promising plays for natural gas development."
Husky said a pair of vertical exploration wells tested 2.9 million cubic feet per day each from the Doig formation, while a third Montney well flowed 5.4 million cubic feet per day.
The company plans to drill its first horizontal well in the area next year.
Source
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment