Annual Report - 2001 - ARC Resources Ltd.

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MAJOR PROPERTIES BRITISH COLUMBIA ALBERTA SASKATCHEWAN Edmonton Calgary Regina QUALITY ASSETS ARE THE BACKBONE OF ARC’S SUCCESS. PRIOR TO ACQUISITION, PROPERTIES MUST MEET SPECIFIC CHARACTERISTICS TO ENSURE A STRONG FIT WITHIN THE TRUST’S ASSET PORTFOLIO. ONCE ACQUIRED, ARC’S TECHNICAL TEAMS BEGIN WORK ON ASSIMILATION OF A PROPERTY – APPLYING TECHNICAL EXPERTISE TO IMPROVE PRODUCTION, INCREASE RESERVES THROUGH LOW RISK DEVELOPMENT ACTIVITIES AND REDUCE COSTS. THE RESULT IS A GROUP OF STRONG FOCUS AREAS CHARACTERIZED BY STABLE PRODUCTION, A PORTFOLIO OF LONG-LIFE RESERVES BALANCED BETWEEN OIL AND GAS WITH LOW OPERATING COSTS AND HIGH NETBACKS. n Northern Alberta & B.C. Ante Creek Dunvegan House Mountain n Pembina Berrymoor Lindale MIPA n Central Alberta Caroline East Garrington Sundre n Southeast Alberta & Southwest Saskatchewan Brooks Jenner n Southeast Saskatchewan Lougheed Midale Weyburn
PAGE 20 MAJOR PROPERTIES NORTHERN ALBERTA & B.C. NORTHERN ALBERTA AND B.C. IS ARC’S LARGEST FOCUS AREA AND IS LOCATED IN ONE OF THE MOST ACTIVE OIL AND GAS AREAS IN CANADA. THE AREA BECAME A MAJOR GROWTH CENTER IN 2000 WITH THE ACQUISITION OF PRODUCING ASSETS AT SWAN HILLS AND ANTE CREEK. THE AREA IS A PRIME TRUST ASSET DUE TO THE RELATIVELY LOW-RISK DRILLING TARGETS, LOW OPERATING COSTS, HIGH NETBACKS AND A DIVERSE BASE OF OPERATED AND NON-OPERATED ASSETS. THE PLAYS DEVELOPED BY THE ARC TECHNICAL TEAM ALSO BENEFIT FROM THE STRENGTHS AND SYNERGIES OF THE TRUST’S PARTNERS IN NON-OPERATED PROPERTIES. CORE PROPERTIES ANTE CREEK ARC owns an average working interest of 92 per cent in 19,360 gross acres in the partially developed Ante Creek Montney A pool, which produces sweet light crude oil. In 2001, ARC recorded 100 per cent drilling success in a three-phase development program that saw 15 wells drilled. Seven oil wells were drilled and tied-in early in 2001, followed by a second seven-well phase at mid-year. The first of six wells planned for the third phase of the program was drilled in late 2001 and the program continued in 2002. Future development will also include production of a well defined gas cap. DUNVEGAN GAS UNIT NO. 1 Through the Startech acquisition in 2001, ARC increased its working interest in this natural gas unit to 5.1 per cent. The Dunvegan field was discovered in the early 1970s, and remains a hub of development activity. A total of 18 development wells and recompletions were undertaken in 2001, resulting in net production of 643 boe/d to ARC. Development drilling is expected to continue in 2002. HOUSE MOUNTAIN UNIT NO. 1 ARC owns a 9.2 per cent working interest in this light crude oil unit in the Beaverhill Lake formation operated by Apache Canada Ltd. ARC’s share of net production was 430 boe/d in 2001 following a program of horizontal re-entry drilling and waterflood optimization. Development activities are continuing in 2002 and will include further horizontal re-entry drilling, well re-activations, fracture stimulations and further waterflood optimization. ARC ENERGY TRUST AR 2001
Page 1 and 2: AR 2001 ARC ENERGY TRUST ANNUAL REP
Page 3 and 4: Photo: Drilling in the Drayton Vall
Page 5 and 6: OPERATING HIGHLIGHTS Years ended De
Page 7 and 8: AT THE TIME OF OUR INITIAL PUBLIC O
Page 9 and 10: PAGE 4 FEATURE: MANAGEMENT EXPERTIS
Page 11 and 12: John P. Dielwart Director, Presiden
Page 13 and 14: PAGE 8 MESSAGE TO UNITHOLDERS We ha
Page 15 and 16: PAGE 10 MESSAGE TO UNITHOLDERS envi
Page 17 and 18: PAGE 12 MESSAGE TO UNITHOLDERS We r
Page 19 and 20: PAGE 14 FEATURE: QUALITY ASSETS A C
Page 21 and 22: Top: Deanna Kalenchuk, Wayne Lentz,
Page 23: PAGE 18 OPERATIONS REVIEW DEVELOPME
Page 27 and 28: PAGE 22 MAJOR PROPERTIES PEMBINA PE
Page 29 and 30: PAGE 24 MAJOR PROPERTIES CENTRAL AL
Page 31 and 32: PAGE 26 MAJOR PROPERTIES SOUTHEAST
Page 33 and 34: PAGE 28 MAJOR PROPERTIES SOUTHEAST
Page 35 and 36: PAGE 30 MAJOR PROPERTIES WEYBURN UN
Page 37 and 38: PAGE 32 ACQUISITIONS AND DIVESTMENT
Page 39 and 40: PAGE 34 RESERVES RESERVES Based on
Page 41 and 42: PAGE 36 RESERVES Reserves Reconcili
Page 43 and 44: PAGE 38 ENVIRONMENT, HEALTH AND SAF
Page 45 and 46: PAGE 40 ENVIRONMENT, HEALTH AND SAF
Page 47 and 48: PAGE 42 FEATURE: COMMITMENT DEFININ
Page 49 and 50: MANAGEMENT’S DISCUSSION AND ANALY
Page 51 and 52: PAGE 46 MANAGEMENT’S DISCUSSION A
Page 65 and 66: PAGE 60 MANAGEMENT’S RESPONSIBILI
Page 67 and 68: PAGE 62 CONSOLIDATED FINANCIAL STAT
Page 69 and 70: PAGE 64 CONSOLIDATED FINANCIAL STAT
Page 71 and 72: PAGE 66 NOTES TO CONSOLIDATED FINAN
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PAGE 70 NOTES TO CONSOLIDATED FINAN
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PAGE 78 QUARTERLY REVIEW QUARTERLY
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PAGE 80 DIRECTORS AND OFFICERS John
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PAGE 82 CORPORATE GOVERNANCE CORPOR
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PAGE 84 CORPORATE AND UNITHOLDER IN
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ANNUAL REPORT 2001 AR 2001 ARC ENER
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Annual Report - 2001 - ARC Resources Ltd.

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