Midstream - Pipelines
Celtic Exploration to Build Duvernay and Montney Gas Plant
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Celtic Exploration Ltd. has committed to construct a shallow-cut gas plant (the “Kaybob Plant”) near its existing Kaybob compression facility located at 15-07-060-18W5. The Kaybob Plant is expected to have the capacity to process approximately 150 MMCF/d of raw gas.
The Company expects the cost to construct the Kaybob Plant will be approximately $40.0 million, of which about 40% will be incurred in 2012 and the balance will be incurred in 2013. Celtic’s previously announced 2012 capital expenditure budget included the anticipated cost in 2012 of constructing the Kaybob plant.
Celtic’s production from the Devonian Duvernay, Triassic Montney and Cretaceous formations at Kaybob that is currently processed at the third-party operated KA Gas Plant, will be diverted to the Company’s Kaybob…
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