Key Facts and Drilling Model
Although technically well-established and largely de-risked into a “manufacturing”-style development mode, Ferguson remains a young asset offering many years of further development in the core pool as well as growth potential in the western land base.
- Company-owned infrastructure including:
- Single-well and multi-well producing sites;
- 8" gas gathering lines, field compression, Company-owned gas plant and metering station on the TransCanada system;
- 8" oil flow lines;
- A central battery with capacity of 8,000 bbls per day and 20,000 bbls of storage; and
- Gas and water reinjection wells, gas compression and high-pressure injection lines for the EOR program;
- ~17 million boe of proved plus probable reserves, as identified by the Company's independent reserve auditor, Sproule Associates Limited; and
- Shallow gas potential to support EOR expansion.
The property’s comprehensive infrastructure will enable Granite to allocate the large majority of its capital investment to drilling and completing wells. Granite’s horizontal development model has the following main parameters:
- Drilling from multi-well pads with established surface equipment and flow lines in the core pool area;
- Use of monobore well drilling technology and sliding-sleeve completions technology;
- Horizontal legs of 1000-2000 metres;
- Typically 20+ fracturing stages;
- 5-10 tonnes of proppant per stage;
- Nitrified fracturing fluid;
- Targeted costs to drill, complete and tie-in of $1.2 million per well.