Canadian Superior Kicks Off Natural Gas Exploration Program
Canadian Superior Energy has kicked off a major drilling program targeting natural gas in several newly established areas of northwest and west central Alberta and northeast British Columbia.
Company President, Greg Noval, said "Canadian Superior has launched an exciting new multi-well natural gas drilling program targeting the development of recently acquired acreage in northwest and west central Alberta and northeast British Columbia. Drilling will commence later this week on a multi-well program which entails the drilling of approximately 25 high working interest Company operated wells (average working interest 90%) in several newly established high impact areas, including the Ladyfern, Chinchaga and Pine Creek areas of Alberta. Further drilling in Alberta will also take place in the Giroux Lake, Windfall, Boundary Lake and Bison Lake areas. In northeast British Columbia, high impact exploration is also planned for the Umbach, Altares and Parkland areas, where the Company has acquired extensive acreage over the last several months."
"The new drilling program is targeting reserve based accumulations of Cretaceous, Jurassic and Devonian natural gas and it is geared toward providing the Company with substantial new production volumes at attractive prices, given the recent significant drop in rig utilization and oil field service cost in Western Canada," Noval said.
The multi-well drilling program is part of a focused exploration and development program Canadian Superior is conducting in Western Canada alongside the Company's strategy of developing its "world class" holdings offshore Nova Scotia.