Canadian Superior Begins Major Drilling Program in Alberta
Canadian Superior Energy Inc. has kicked off a major drilling program targeting natural gas in several new core areas established this year in north central and northwest Alberta.
Company President Greg Noval said in Calgary today, "Canadian Superior has launched a new multi-well natural gas drilling program in the Bison Lake, Boundary Lake, Bear Canyon, Venus and Mulligan areas. The program entails the drilling of approximately 18 wells over the next 90 days in several newly established core areas. Drilling has commenced in the Bison area where 7 wells are to be drilled in north central Alberta targeting (700 meters) shallow gas in the Bluesky/Gething formations and 6 wells are planned in the Venus area targeting a combination of deep (2,200 meters) Slave Point formation natural gas and shallow (700 meters) gas in the Debolt formation. Furthermore, multiple wells are being drilled under a joint venture with a major operator in the Peace River Arch area of northwest Alberta. In the Boundary Lake area, the Company is targeting medium depth (1,500 meters) oil in the Boundary Lake formation and deep (2,700 meters) Baldonnel and Kiskatinaw natural gas in the Bear Canyon area. The program is geared toward providing the Company with substantial new production volumes at attractive prices, given the recent significant drop in drilling rig utilization and oil field service cost in Western Canada," Noval said.
Canadian Superior also reported today that completion operations are currently underway on a new natural gas discovery in the Mulligan area of northern Alberta. Additional follow-up drilling locations are currently being planned by the Company. Canadian Superior is the operator of all the wells being drilled under the new program and has a 100% working interest in all prospects other than at Boundary Lake and Bear Canyon where it has a 50% and 65% working interest, respectively.