ARC Resources Ltd. (ARX.TO) said on Jan. 8 that its fourth quarter 2013 production results were within its 2013 budget. Additionally, ARC said new wells would be drilled this year on its Tower and Parkland processing/handling facility, and that 26 existing wells there will be brought online in first quarter 2014.
The estimated fourth quarter 2013 production for ARC was roughly 100,000 barrels of oil equivalent per day (BOE/d). This amount, called “record quarterly production volumes” by the company, “is expected to contribute to record annual production of approximately 96,000" BOE/d, the company said. This keeps last year’s production guidance within its budget, the company added.
Ready to begin production at the Parkland and Tower processing/handling facility, completed Dec. 2013, are 26 existing wells, ARC said, adding that additional wells will be drilled within a year and a half.
ARC Resources Ltd., based in Calgary, is a conventional gas company with operations across western Canada. The company said it expects 110,000 to 114,000 BOE/d of oil and gas in 2014 from its properties across the region.
Recommended Reading
Chesapeake Enters into Long-term LNG Offtake Agreement
2024-02-13 - Chesapeake Energy entered into a long-term liquefaction offtake sale and purchase agreement with Delfin LNG and Gunvor Group for a 20-year period.
New Fortress Starts Barcarena LNG Terminal Operations in Brazil
2024-03-01 - New Fortress’ facility consists of an offshore terminal and an FSRU that will supply LNG to several customers.
Midstream Builds in a Bearish Market
2024-03-11 - Midstream companies are sticking to long term plans for an expanded customer base, despite low gas prices, high storage levels and an uncertain political LNG future.
NextDecade Targets Second Half of 2024 for Phase 2 FID at Rio Grande LNG
2024-03-13 - NextDecade updated its progress on Phase 1 of the Rio Grande LNG facility and said it is targeting a final investment decision on two additional trains in the second half of 2024.
FERC Approves Extension of Tellurian LNG Project
2024-02-19 - Completion deadline of Tellurian’s Driftwood project was moved to 2029 and phase 1 could come online in 2027.