Operational Updates
ARC Resources Ltd. Provides Cardium and Montney Operational Update
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OPERATIONAL REVIEW
During the first quarter of 2012, ARC spent $186.9 million to execute its capital program including $28.3 million on facilities expenditures. ARC drilled 59 gross (54 net) wells on operated lands with a 100 per cent success rate. First quarter drilling activity was focused on oil and liquids development with 98 per cent of wells drilled being oil and liquids-rich gas wells. Activities focused on Tower in northeast British Columbia, Pembina and Ante Creek in northern Alberta and various oil properties throughout southeast Saskatchewan and Manitoba. ARC commissioned a new 30 mmcf per day gas processing facility at Ante Creek in late February to accommodate solution gas processing which will in turn facilitate increased liquids production.
First quarter production of…
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