68. RETAILTexasmarketingpresentationFINAL.pdf - Enerplus
68. RETAILTexasmarketingpresentationFINAL.pdf - Enerplus
68. RETAILTexasmarketingpresentationFINAL.pdf - Enerplus
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Freda Lake Ratcliffe Unit<br />
Freda Lake Ratcliffe Voluntary Unit #1<br />
99.86% WI<br />
Key Facts<br />
OOIP<br />
55 MMBOE<br />
Recovery Factor to Date ~14%<br />
Cumulative Production<br />
P+P Reserves (Dec. 31, 2010)<br />
8 MMBOE<br />
10.2 MMBOE<br />
(booked to 31%)<br />
Best Est. Contingent Resource 2.3 MMBOE (+4%<br />
RF)<br />
Oil Quality<br />
2011E Exit Production<br />
32° API<br />
1,900 BOE/day oil<br />
(+40% vs 2010)<br />
<strong>Enerplus</strong> Ratcliffe Rights<br />
2009/10 Development Locations<br />
2011 Development Locations<br />
2011 Injector Conversions<br />
Horizontal wells and waterflood optimization<br />
unlocked major resource<br />
• Discovered 1967 & developed on 80 acre vertical well<br />
spacing, acquired in 2003<br />
• Peripheral waterflood implemented mid 1980’s<br />
• New wells attract lower royalties<br />
• Historical decline ~ 4%, RLI ~40 years<br />
• Injection conversions increasing oil production from<br />
surrounding producers<br />
• Recent single and dual leg HZ wells producing at<br />
150-300 bbl/day with 37-65% water cuts vs a<br />
previous pool average of over 90%<br />
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