Halkirk / Provost Viking Opportunity - PrairieSky€¦ · Halkirk / Provost -Viking Opportunity ......
Transcript of Halkirk / Provost Viking Opportunity - PrairieSky€¦ · Halkirk / Provost -Viking Opportunity ......
Halkirk / Provost - Viking Opportunity
Play Synopsis Viking Sand Profiles: Provost Area
Schematics
I:\CGY\Geodata\ArcGIS\Project\User\sp_projects\ML_13_0049_Royalty\ML_13_0049_Poster\ML_13_0049_Halkirk_Provost_Viking\ML_13_0049_Halkirk_Provost_Viking.mxd
Oil and gas is trapped in Viking aged fine grained deltaic to shoreface sands in the Provost area. These
fields, discovered in the 1950’s, have estimated oil in place of over 1.3 billion barrels and despite extensive
waterflooding have an estimated recovery factor of only 5%. Horizontal drilling and multistage hydraulic
fracturing has resulted in successful redevelopment of these pools in Saskatchewan and the method is
being extended into Alberta.
Fluid: Oil 34 degree API
Area: T32-1W4 to T43-16W4
Active Operators: Karve, Tamarack
Seismic: 2-D and 3-D data is available over part of the land base
Infrastructure: Gas and oil pipelines and facilities are present in the area
Land Base: Checkerboard leases are available in focus areas
Play Parameters: Zone Depth: 800-900 m
Reservoir
Lithology: Sandstone
Average Porosity: 20-26%
Average Permeability: 1-500 mD
Water Saturation: 38%
Multi-stage perf and frac completion with lateral lengths from 0.5 mi up to 1.0 mi (ERH) Waterflood upside
Economics Operators such as Karve and Tamarack continue to develop the Viking
play by moving to extended reach wells (ERH) to further improve econom-
ics. Lateral lengths of ¾ to 1 mile are becoming increasingly common as
a means to add further value by improving the EUR’s from 40 mboe to 95
mboe. ERH wells are also much more capital efficient with DCET costs
ranging from $800 M to $1 MM. As a result, Rates of Return have im-
proved markedly with numbers over 100% common, and associated pretax
NPV’s exceeding $0.8 - 1 MM.
Note: Economic Indicators sourced from publicly available Corporate re-
port data.
Type Log