Horn River - Land of OpportunityBack in the day working in the Patch, we would for the what was called the Super Majors who were the only ones that could do ground breaking exploration in areas like East Coast, Duvernay, North East BC, Foothills, Eaglesford, Marcellous, Haynesville, Christina Lake, Pouc Coupe, Beaufort etc.
The resouce was oftent there but the same technology did not exist 15 years ago. You were drilling 1200 meter laterals with 6 Fracs and the cost were going through the roof and the execution marginal.
In 2009 Apache drilled wells in the Horn River, likely 1200 - 1500 meter horz wells that had 10 BCF of reserves, and produced at 16 MMcf a day, and the economics were marginal, that was in 2009.
Now you could drill those same wells for half the cost, 4X the fracs, 4000 meter in length, an they would production 25-40 MMcf a day.
There is reasons why companies like Imperial Oil, Apache, Encana did all this work. However they are not the same companies they use to be, the economics have dramaticly changed, and these wells are represent a resouce that could benifit the world interms of LNG.
IMHO