Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Perpetual Details Viking, Cardium Year-End Wrap Up; Talks Reserve Analysis
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Perpetual Energy Inc. has reported the summary of the Company's year-end 2013 operations as well as reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd.
Overall, the results of Perpetual's capital investment program in 2013 were extremely positive, with reserve additions replacing production by close to 2.5 times. The majority of the 2013 reserve additions resulted from capital spending focused on Perpetual's two key diversifying strategies; liquids-rich natural gas in the Wilrich formation in the Greater Edson area and heavy oil reserves in the Mannville area of eastern Alberta . Year-over-year reserves for these plays grew by 51 percent and now represent 59 percent of the Company's total proved and probable reserves. With the continued…
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