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Vol. 9, No. 46 Week of November 14, 2004
Providing coverage of Alaska and northern Canada's oil and gas industry

Apache, Devon rescued by Canadian operations

Gary Park

Devastated by Hurricane Ivan, two big U.S. independents got a helping hand from their Canadian operations in the third quarter.

Apache and Devon both reported that the setbacks in the Gulf of Mexico were partly offset by steady output north of the 49th parallel.

Apache keeps aiming higher in Canada, where President Steven Farris said “we have a lot of oomph going forward.”

As part of its US$450 million capital budget for Canada this year, the company drilled 742 wells in the third quarter and posted 99 percent success at the Hatton, Nevis and Provost plays in Alberta.

Daily production for the three months was 326 million cubic feet of gas, 24,743 barrels of oil and 2,794 barrels of natural gas liquids.

Apache is also starting operations on 382,000 acres of undeveloped properties in mature areas of Alberta, with a commitment to drill about 250 wells over two years.

“The preliminary drilling results lead us to be very optimistic and we expect to be able to drill about 50 to 60 wells on that acreage by year end,” Farris said.

The third-quarter breakdown included the completion of 460 wells at Hatton, of which 81 are producing; 180 coalbed methane wells at Nevis, with 80 hooked up and pumping 33 million cubic feet per day; and an ongoing 325-well program at Provost.

Although its U.S. volumes dropped by 3 million barrels of oil equivalent during the quarter, Devon reported a marginal gain in Canadian output to 16.5 million boe, up 200,000 boe from a year earlier, and a gain for the first nine months of 1.7 million boe to 48.7 million boe.

During the latest quarter, Devon drilled 185 wells in the Lloydminster heavy oil region and tied-in 148, yielding a net 22,000 boe per day to Devon. However, a wet summer saw Devon fall almost 140 wells short of its targeted 300.



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