Waterfloods are an attractive asset for
Enerplus because they have large
accumulations of original oil in place with
low geologic risk. We own 12 major
waterflood properties and numerous small
waterflood properties with over 1.4 billion
barrels of original oil in place. This
represents a considerable resource for us
as modest improvements in recovery
factor can result in significant increases in
reserves.
In a crude oil waterflood play, water is
injected into the producing reserve
formation to supplement the original
reservoir pressure and provide a drive
mechanism to move additional oil to the
producing well. Pressure maintenance and
the production of oil from water injection
can result in a production profile with
more predictable and stable declines and
higher recovery of reserve assets.
We operate over 80% of our crude
oil waterflood production, which is located
throughout the Western Canadian
Sedimentary Basin.
Our 12 major waterfloods properties are Joarcam, Pembina 5 Way, Giltedge, Medicine Hat Glauconitic
"C" Unit, Virden, Gleneath, Silverheights, Pouce Coupe, Cadogan, Freda Lake, Kessler and Mitsue.
Key Statistics:
- 22% of proved plus probable reserves
- 17% of 2009 year to date daily production
- Reserve Life Index of 16.2
- 2009 development capital plan - $59 million
- Our 2009 plans include an 11 gross horizontal well program in the fourth quarter that will be focused at Virden, Manitoba; Medicine Hat, Alberta; and Freda Lake, Saskatchewan.
*as of September 30, 2009
For further information on all of our resource plays, click here.
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