Exploration & Production | Quarterly / Earnings Reports
Arc Resources HZ Cardium Production Exceeds Expectations
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Arc Resources Ltd. has reported a Q2 update on its Pembina Cardium operations.
PembinaSecond quarter Pembina production exceeded expectations due to strong well performance. Production increased to approximately 12,400 boe per day in the second quarter, up eight per cent relative to the second quarter of 2012. Pembina second quarter production was comprised of 75 per cent light oil and liquids and 25 per cent natural gas.
ARC drilled seven gross operated (six net) horizontal Cardium oil wells at Pembina in the second quarter. ARC completed the expansion of an existing gas processing plant at Berrymoor to alleviate solution gas processing capacity constraints from oil wells drilled in the Berrymoor, Lindale and Buck Creek areas. The expansion added seven mmcf per day of processing…
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