The Company has commenced production at a rate of 2 million cubic feet of gas per day (mmcfd). Gas is being transported through the recently completed pipeline which connects Acadia ``10-22'' to Altagas's existing natural gas pipeline infrastructure serving residential, utility and industrial markets throughout Western Canada and the U.S.
Project Advisor and petroleum engineer, Richard Johnson stated, ``The 10-22 well is currently producing 2 mmcfd and is being held back during its early production to evaluate its performance. Gas production from the well will continue to be controlled so that the well does not damage itself by producing at an excessive rate. The well produced at a stable rate of 5 mmcfpd at a wellhead pressure of 864 psi during AOF testing. Delivery pressure into the gas gathering line is under 200 psi, so the well is capable of much higher production rates. The calculated sandface Open Flow Potential (AOF) of the well is 58 MMCFPD.''
The Acadia Project was first announced in December 2004, is located approximately 160 miles east of the City of Calgary, Alberta. Current production is coming from one well at the 10-22- 25-02 W 4M location. Two additional wells at a ``15-34'' and ``6-23'' well locations are expected to come online in November, 2005. By year-end, Acadia production is expected to approach 8 mmcfd from 6 producing natural gas wells.
``The successful development of the Acadia Project is an major milestone in Quest's efforts to commercialize its Acadia Project gas position,'' said Cameron King Quest Oil's President and CEO ``We are now making significant investments to grow this business to help meet the increasing need for new sources of natural gas.''
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