Plan for 2015
- Growth from liquids-rich natural gas in the Montney at Umbach
- Major expenditures included in operations capital investment for 2015 include:
- Drill 10 horizontal wells (10.0 net) and complete 13 horizontal wells (13.0 net), with 13 (13.0 net) in total starting production in 2015;
- Pipeline connect to Stoddart Gas Plant;
- Expand second field compression facility from 27 to 64 Mmcf per day and install condensate stabilizer and fuel gas conditioning unit; and
- Order long-lead-time equipment for the third field compression facility.
Plan for 2016
- Drill 14 horizontal wells (14.0 net) and complete 14 horizontal wells (14.0 net), with 16 (16.0 net) in total starting production in 2016;
- $63.0 million is allocated to drilling and completions and $34.0 million to infrastructure.
Storm's land position in the Horn River Basin (shale gas) continues to be a long-term asset which provides significant leverage to increased natural gas prices or to LNG development on Canada's west coast (core project area DPIIP 2.8 to 3.1 Tcf)
- Best estimate DPIIP 3.1 Tcf with 616 Bcf contingent resources.
- Commerciality proven with 1 horizontal well on production and 2 vertical wells completed and tested.