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Athabasca: Duvernay, Montney Asset Potential "Tremendous"
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Athabasca Oil Corporation has reported the sanction of its Hangingstone 1 SAGD Project and reaffirms that its Light Oil Division is on track to meet its year-end production target of 10,000 to 11,000 barrels of oil equivalent (boe/d).
Current highlights include: The Board of Directors has sanctioned the $536 million development budget for the 12,000 barrels per day (bbl/d) Hangingstone Project 1, comprised of a central processing facility and twenty SAGD well pairs on four well pads. The Board of Directors has also sanctioned $27 million for the construction of supporting infrastructure; An evolution in hydraulic fracturing methodology has yielded enhanced results in the Company's third Duvernay well, 02-34-62-20W5M, at Kaybob West. The 02-34 well flowed at a final test rate (after 109…- ✓ Full news archive — U.S., Canada & international coverage
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