NuVista Achieves Record Production Levels in Q4 2007
NuVista achieved record production levels in the fourth quarter of 2007 and for the year ended 2007. Our exit production rate of 15,000 boe/d was at the high end of our guidance range of 14,700 boe/d to 15,000 boe/d. NuVista drilled a total of 138 wells during 2007 with an average success rate of 88%.
In addition, NuVista completed a property acquisition in our Central Alberta core area for approximately $35 million and five smaller complementary acquisitions totaling approximately $16 million. Production increases were achieved in our Central Alberta, Provost and Oyen core areas.