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GASFRAC Energy Services, Inc. Message Board

  • boonwan1 boonwan1 Jan 17, 2013 11:49 AM Flag

    Husky Energy Dec 4Investor Day 2012

    Okay. Just talk a little bit more about Ansell. Ansell is an important, rich -- liquids rich gas play to us. Our
    strategy is -- at Ansell is to move the play forward, maintain our land position, continue to drive down costs and
    improve execution, but also to be patient. In the near term, in light of gas prices, we have redeployed some of
    the capital directed at this play to other opportunities. However, the play, in the long term, still represents a
    good opportunity for meaningful growth in our liquids-rich resource portfolio and we're currently producing
    about 10,000 barrels of oil equivalent per day from this play, via a combination of vertical and horizontal wells.
    We have great infrastructure access in this play. And we expect to grow production to about 14,000 barrels
    per day of oil equivalent by the end of next year. We like our concentrated land position here. We're -- we've
    basically got about 200 net sections over the entire area and they are large continuous, which is very helpful in
    terms of development. And there's lots of opportunity in both the Cardium and the Wilrich formations. The
    advantage here -- additional advantage is, we own most of the geological stack. So we can actually exploit all
    the different reservoir horizons in most of this land area.
    We have seen improved productivity from propane fracs in this area in the Cardium. And we see that through
    all the work we've done in our vertical wells. And from this chart, you can see this is the first two horizontal
    wells and you can see we actually have quite a large outperformance using propane in the Cardium here, in
    the early stages here.
    The reason for this sharp decline, again, is not well performance. It's actually because we had such an excess
    of C-3s that the processing plant couldn't deal with it and we had to shut-in the well until we reconfigured the
    infrastructure. So, again, very promising on the Cardium delivery with propane there, it's early days in the
    Wilrich, but the results are encouraging when you look at all the data that's out there, particularly amongst a lot of our competitors and some of our very, very early results

    Gasfrac has a 3 years contract(+2 years renewal option) signed in September 2011.

    Sentiment: Strong Buy

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