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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.
For 2009, capital spending within our waterflood portfolio was largely focused on Freda Lake, Virden, Giltedge, Pembina, and Medicine Hat. Approximately $14 million was spent on drilling 11 net wells, including 7 horizontal wells. Maintenance projects including facility and pipeline integrity upgrades were also a significant part of activities. In total we invested $37 million in this resource play during the year.
Key Statistics:
- 2010 expected production: 15,800 BOE/day (18% of total production)
- 2010 development capital plan: $96 million, 38 net wells
- 28% of proved plus probable reserves
- Reserve life index of 16.1 years
For further information on all of our resource plays, click here.
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