NYBob
14 years ago
Companies say Alaska gas pipeline could cost $41B
15 hours ago
(AP:JUNEAU, Alaska) Companies working with the state of Alaska to develop a major natural gas pipeline estimated Friday that the project would cost $20 billion to $41 billion, depending on the route.
The Alaska Pipeline Project seeks to move natural gas from the harsh North Slope to market in Alaska, through Canada and to the Lower 48.
The high end of the estimate is at least a billion more than earlier thought, but project officials believe the pipeline is economically viable and could start carrying gas in about 2020.
More details of the plan came in a filing Friday with federal regulators _ the first step toward an "open season," when companies behind the project will court gas producers and try to secure commitments for shipping deals.
TransCanada Corp., based in Calgary, Alberta, is working with Irving, Texas-based Exxon Mobil Corp. to advance the project. The state of Alaska has promised to reimburse up to $500 million of eligible costs.
A rival project by Britain's BP PLC and Houston-based ConocoPhillips is also moving ahead, though its difficult for many _ given the economics involved _ to see more than one project going forward.
Tony Palmer, TransCanada vice president of Alaska Development, told reporters Friday that he believes the best and most effective way to bring the project forward is to form an alliance between the state, TransCanada and the North Slope's current major players, Exxon Mobil, BP and ConocoPhillips.
It's during open season when shippers interested in moving gas to markets in Alaska and outside the state indicate which their preferred route.
One pipeline option, estimated to cost $32 billion to $41 billion, would run from the North Slope to Alberta, Canada, where gas could then be moved on existing systems to North American markets.
The other option, estimated to cost $20 billion to $26 billion, would run 900 fewer miles, from the North Slope to Valdez, Alaska. From there, gas would be liquefied at a facility constructed by other entities _ just who would build it is unclear _ and then shipped elsewhere.
According to the filing, Alaska's North Slope holds about 35 trillion cubic feet of currently proven natural gas reserves.
The first, or Alberta, pipeline option would carry 4.5 billion cubic feet of natural gas per day; the second, 3 billion cubic feet a day.
Early estimates from a few years ago pegged the cost of the pipeline at about $26 billion, though then-Gov. Sarah Palin had cited estimates of up to $40 billion.
Gov. Sean Parnell said the filing was a significant milestone toward achieving a project that would bring good-paying jobs, cheaper energy and new revenue to Alaska.
But Rep. Mike Hawker, co-chairman of the state House Finance Committee, said the filing is the easy part. The hard part is getting the companies' to reach agreements with shippers, he said.
___
On the Net:
Alaska Pipeline Project: http://www.thealaskapipelineproject.com
NYBob
16 years ago
Northern Sun exploration update -
Wednesday April 2, 2:00 pm ET
TSX-V: NSE
CALGARY, April 2 /CNW/ - NORTHERN SUN EXPLORATION COMPANY INC. (the "Company") is pleased to provide an update to its exploration and capital expenditure program for Alberta and Saskatchewan.
The Company has completed the initial testing of the eight exploration wells from its December 2007 drilling program. After a comprehensive testing period, the Company is pleased to report that six of the eight exploration test wells look to be economic, and once all the wells have been tied in, the Exploration program will have added 102 boed. Highlights by area are as follows:
ALBERTA
Worsley
The Company's 50% working interest 1-23-87-6-W6, 2250 meter multi-zone test well is producing oil and liquids from the Gething zone, as the deeper zones proved to be uneconomic. The well is being carefully managed to optimize a gas and oil / liquids production rate and minimize the water cut. The well is currently producing 10 boed and has been equipped to inject water for disposal in the deeper zones. The water disposal into the deeper zones will commence when the operator has received regulatory approval which should be granted before the end of June 2008.
Grouard
The Company drilled 2 multi-zone gas wells and 1 oil well at Grouard. The completion and testing of the wells resulted in two gas wells and an oil well. The oil well is currently producing 19 degree API oil at a rate of 6-10 boe/day. The 10-3 gas well remains to be tested for its gas potential given the initial zone tested has been inconclusive in terms of stabilized rates and the second well at 1-15 has been tested at a rate of 0.105 mmcf/day net (17 boed) and will be tied-in together with the company's other existing stranded gas wells when the Company's planned gathering project proceeds. The project would see the currently stranded gas, and all new volumes become tied-in to the local gas Co-op so the wells can produce near their full capacity. The Company is currently negotiating a joint venture that will enable the gathering project to proceed. Upon completion of the project, the Company expects to add approximately 0.90 mmcf/d (150 boed) to its existing production in the area.
Thorhild
The Company drilled two exploration wells and completion results indicate the 14-13 well will be a gas well as it has been tested and the Company is currently obtaining approvals to tie-in to a nearby third party facility for gas production. Upon receipt of approvals the well is expected to produce at a rate 0.138 mmcf/day (23 boed) net to the Company. Production is expected to begin near the end of June, 2008 after spring break up. The second well at 7-26 has been tested and the initial zone has not been economic, therefore the company will re-perforate the well in a shallower gas zone when weather and ground conditions permit. The Company paid 100% of all costs to earn a 65% working interest in the wells.
Figure Lake
The Company drilled and completed the multi-zone gas test well. The well has been tied-in to a nearby third party operator and is producing at a rate of 0.127 mmcf/day (21 boed) net to the Company. The production rate should increase marginally as the well stabilizes. The Company paid 55% of all costs associated with bringing the well into production to earn a 45% working interest.
SASKATCHEWAN
Supreme
The Company 's 100% working interest multi-zone gas test well on its property in the Supreme / Arena area of southwest Saskatchewan is expected to be tied-into to a nearby third party facility by the end of the June, 2008. The well has been tested and is expected to produce at a rate of approximately 0.150 MMscf/d (25 boed).
The Company expects to increase production upon reaching an agreement with a joint venture partner with respect to the gathering project at Grouard. The project will add approximately 160 boed of which the Company expects to share up to 45% with it's joint venture partner. The Company's current production is approximately 100 boe/day and is expected to be at 145 boed upon commencement of production of the wells at Supreme and Thorhild.
Northern Sun is an Alberta-based exploration and production company with operations in Alberta, Saskatchewan and the North West Territories.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NORTHERN SUN EXPLORATION COMPANY INC.
"Chris Cooper"
President & CEO
-------------------------------------------------------------------------
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this news
release.
-------------------------------------------------------------------------
For further information
please contact the Company toll-free at (866) 827-2722, via email at info@northernsunex.com, or visit the Company website at
http://www.northernsunex.com
Source: Northern Sun Exploration Company Inc.
http://biz.yahoo.com/cnw/080402/northrn_sun_expo_updt.html?.v=1
http://investorshub.advfn.com/boards/board.asp?board_id=5526
NYBob
16 years ago
Northern Sun Exploration Update
TSX-V: NSE
CALGARY, Jan. 22 /CNW/ - NORTHERN SUN EXPLORATION COMPANY INC.
(the "Company") is pleased to provide an update to its
exploration and capital expenditure program for Alberta
and Saskatchewan.
Operational update
The Company has completed its 2007 drilling program for a total
of 8 wells and upon initial completion results the Company
expects to have economic production from 7 of the wells.
Production rates will be released after the wells have been
tied-in or equipped and producing for 14 days.
Highlights by area are as follows:
ALBERTA
Worsley
The 11-23-87-6-W6 well has been equipped with a pump jack
in order to manage the liquids and determine a stabilized
gas and oil / water production rate.
Currently the well is producing - net to the Company -
light oil at a rate of 35 boepd, and the Company expects
the gas rate to recover and stabilize at approximately
0.4 MMscf/d (65 barrels of oil per day equivalent)
from the upper leduc zone.
The Company's 50% working interest 1-23-87-6-W6, 2250 meter
multi-zone test well drilled and completed in December
is currently undergoing testing.
The Company is encouraged with the testing of the Gething
zone where oil is currently being swabbed and the well
is being equipped with a pump jack in order to manage
the liquids and determine a stabilized gas and
oil / liquids production rate.
The Company already tested both the Leduc and Charlie lake
zones with both zones proving to be uneconomic.
Grouard
The Company drilled 2 multi-zone gas wells and 1 oil well
at Grouard.
The completions of the wells result in likely two oil wells
and one gas well.
The oil prospect remains to be tested within the next two
weeks upon the installation of temporary facilities.
The gas well has been briefly tested and is planned to
be tied-in to a nearby company pipeline, and together
with the company's other existing stranded gas wells
will form the basis and provide economics for a
gathering project which would see the currently
stranded gas, and all new volumes become tied-in to
the local gas co-op so the wells can produce near
their full capacity.
If the Company's 2 new oil wells produce at economic rates,
such oil production will be trucked to a terminal
approximately 25 miles away.
Thorhild
The Company drilled two exploration wells and completion
results indicate likely a gas well and an oil well.
The gas well has been tested and the Company is currently
obtaining approvals to tie-in to a nearby third party for
gas production.
The oil well will be tested in the next two weeks upon
the installation of temporary facilities.
Production rates will be released upon both wells producing
for a period of at least 14 days in order to establish
an accurate rate of production.
The Company paid 100% of all costs to earn a 65%
working interest in the wells.
Figure Lake
The Company drilled and completed the multi-zone gas test well.
The well will be tied-in to a nearby third party operator
within the next 10 days.
Production rates will be released on the well upon it
producing for a period of at least 14 days in order to
establish an accurate rate of production and capacity of
the third party system.
The Company paid 55% of all costs associated with bringing
the well into production to earn a 45% working interest.
SASKATCHEWAN
The Company's 100% working interest multi-zone gas test well
on its property in the Supreme / Arena area of southwest
Saskatchewan is expected to be tied-into to a nearby third
party facility within the quarter.
The well is expected to produce at a rate of
approximately 0.15 MMscf/d (25 boed).
Additionally, the Company has entered into an agreement with
a current joint venture partner to acquire its 50%
working interest in 1,746 acres of land in the Arena area
of southwest Saskatchewan.
Northern Sun will own 100% of the sections and hold a
100% working interest in two existing gas wells.
The gas wells will be re-entered and stimulated for
production at a later date as part of the Company's
further development program.
The Company also acquired a report commissioned in the
1980's which is an analysis of Hydrocarbon Discoveries
in the Mackenzie Basin, which relates to the lands
currently claimed, occupied, and managed by the
Company's partner the Ka 'a' Gee Tu First Nation in the NWT.
The Company will issue 137,500 common shares of the Company
as consideration for the 50% working interest in 1,746 acres
land and the report.
Northern Sun is an Alberta-based exploration and
production company with operations in Alberta,
Saskatchewan and the North West Territories.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NORTHERN SUN EXPLORATION COMPANY INC.
"Chris Cooper"
President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this news
release.
Source: Canada NewsWire (January 22, 2008 - 3:04 PM EST)
http://biz.yahoo.com/cnw/080122/northern_sun_update.html?.v=1
http://finance.yahoo.com/q?s=NSEFF.PK
150,000 SHARES AND HOPING for pipeline 26-Jan-08
this stock has the change to be a 20-40 banger if the pipeline
is started.
the new wells should give us a nice uptick I am sure that
we will see $.50 with these new wells.
The president has been very open to talk to on the phone.
I think that the pipeline is as near a reality as any time
i have own this stock.
Sentiment : Buy
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_N/threadview?m=mm&bn=69321&tid=2&mid=2&tof=1&frt=1
EnergyGuy62
16 years ago
Northern Sun latest update on drilling activity for both oil and gas.
Northern Sun exploration update
11:16 EST Thursday, December 06, 2007
TSX-V: NSE
CALGARY, Dec. 6 /CNW/ - NORTHERN SUN EXPLORATION COMPANY INC. (the "Company") is pleased to provide an update to its exploration and capital expenditure program for
Alberta and Saskatchewan.
ALBERTA
Worsley
The Company's successful 50% working interest 1-23-87-6-W6 Leduc oil and gas test well drilled in August of this year was tied-in and began producing gas and associated liquids from the upper Leduc zone in September. The Company and its partner have since perforated and tested the lower distinct portion of the Leduc zone encountering oil, gas and water.
Given the differences in the production characteristics between the two zones, the operator has since isolated the two zones in a manner that permits both zones to be produced simultaneously.
Currently, the well is being held back by the operator in order to maximize the amount of condensate and gas liquids the well can produce with the conventional gas production. The well is currently producing approximately 0.60 MMscf/d (90 barrels of oil per day equivalent) in addition to approximately 25 barrels of condensate per day and gas liquids from the upper Leduc zone. The company expects the well production to settle in at 75 to 100 boe per day net to the Company.
The Company and operator will soon be submitting a GPP (Good Production Practice) application to the Energy & Utilities Board in order to obtain an approval to produce the well from both distinct zones. The Company believes it can produce the bottom oil zone independently from the top zone and add incremental production.
Drilling at the Company's 50% working interest 2250 meter Leduc gas test at 1-23-87-6-W6 has begun. The multi-zone prospect oil and gas well is expected to reach total depth within the next 8 days. Upon success, the well will be tied-in 600 meters to the existing pipeline meter station site, and gas will be directed to nearby third party facility for gas sales.
Grouard
The Company has drilled 2 of its multi-zone gas wells thus far at Grouard and is scheduled to spud its oil well within the next day. The logs for the multi-zone gas wells are currently being reviewed and the wells will be tested along with the oil well upon the completion of drilling. Upon a successful test, the gas wells will be tied-in to a nearby company pipeline, and together with the company's other existing stranded gas wells will form the basis and provide economics for a gathering project which would see the currently stranded gas, and any new volumes become tied-in to the local gas co-op so the wells can produce near their full capacity.
If the Company's 100% working interest oil well produces at an economic rate, production will be trucked to a terminal approximately 25 miles away immediately.
Thorhild
The Company will be drilling 2-3 exploration wells before year end to test the prospect. The Company will pay 100% of all costs to earn a 65% working interest. Information with respect to these wells will be released when the play is properly evaluated and advanced.
Figure Lake
The Company will participate in drilling a 700 meter multi-zone gas test well within the next three weeks. The deal requires payment of 55% of all costs associated with bringing the well into production to earn a 50% working interest. A successful gas well will be tied-in into an existing pipeline
approximately 50 meters away.
SASKATCHEWAN
The Company has drilled its 100% working interest multi-zone gas test well on its property in the Supreme/Arena area of southwest Saskatchewan. The well was drilled to a depth of 1050 meters and a successful test has warranted the well to be tied-in to a nearby third party facility. The well is expected to produce at a rate of approximately 0.15 MMscf/d (25 boed).
Northern Sun is an Alberta-based exploration and production company with operations in Alberta, Saskatchewan and the North West Territories.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NORTHERN SUN EXPLORATION COMPANY INC.
"Chris Cooper"
President & CEO
NYBob
16 years ago
Oil-producing Nigeria, Angola consider diversifying from dollar
Submitted by cpowell on Sat, 2007-11-17 19:00.
Section: Daily Dispatches
Saudi Arabia Not Alone
Defending Dollar in OPEC
By Anchalee Worrachate and Zainab Fattah
Bloomberg News Service
Saturday, November 17, 2007
http://www.bloomberg.com/apps/news?pid=20601087&sid=afxLcinHBliI&refer=h...
RIYADH, Saudi Arabia -- Saudi Arabia's decision to exclude the falling dollar from discussions at this weekend's OPEC summit was supported by others within the producer group, Angola's Finance Minister Jose Pedro de Morais said.
Saudi Arabia, the world's largest crude oil exporter and an ally of the U.S., yesterday rejected a proposal by Iran and Venezuela to debate pricing oil in currencies other than the dollar, a day before the OPEC heads of state summit in Riyadh.
"This is not the case of Saudi Arabia against the rest at all," de Morais said in an interview today. "Since the OPEC economy is profoundly linked to the dollar, any rash move could do more harm than good."
Leaders of the 12-member Organization of Petroleum Exporting Countries landed today in Riyadh, where Saudi police blocked off streets and helicopters patrolled the skies. The group will commit to ensuring stable oil supply and seek ways of reducing carbon emissions from fossil fuels, according to a draft resolution.
Oil ministers ahead of the summit rejected a U.S. call to provide more oil. after Their last production increase failed to prevent prices rallying to record levels about $98 a barrel. They will instead wait for a Dec. 5 meeting in Abu Dhabi to discuss output targets. Crude for December delivery yesterday rose $1.67 to $95.10 on the New York Mercantile Exchange.
...Accidental Broadcast
Saudi Arabia, the world's largest crude oil exporter, already rejected a proposal by Iran and Venezuela to discuss the weak dollar summit in Riyadh because it didn't want the U.S. currency to collapse.
The rejection yesterday by Saudi Foreign Minister Prince Saud Al-Faisal came during a meeting of oil and finance ministers that was accidentally broadcast to journalists.
The main protagonists in the debate were Venezuelan Energy Minister Rafael Ramirez, Iranian Foreign Minister Manouchehr Mottaki and Saud al-Faisal, each one talking in his own language. Iran's President Mahmoud Ahmadinejad also called today on the group to discuss dropping oil sales in U.S. dollars before his arrival.
"The weakness of the dollar is affecting us all," Angola's de Morais said today. "But that's a global-scale problem. It's not for an individual organization to tackle."
The dollar fell to a record low against the euro on Nov. 9 and has declined by almost 15 percent against the European currency in the past 12 months. As the dollar's decline eroded oil revenue, some OPEC members have said they will consider increasing transactions in euros.
...Diversifying Reserves
Nigeria, Africa's largest oil producer, changed its laws to allow it to diversify its foreign reserves out of dollars, Finance Minister Shamsudeen Usman said yesterday.
Nigeria joins countries in the Middle East and Asia such as the United Arab Emirates and China who are reviewing their foreign exchange reserves amid concern that the dollar's weakness may augur the end of the U.S. currency's 62-year reign as the world's main international currency for trade, financial transactions and central-bank reserves.
Even though Angola, Africa's second-biggest oil producer, agreed that the dollar issue should not be raised at the OPEC summit, the country is considering diversifying its international reserves away from the dollar.
"We are seriously considering diversifying our reserves into other currencies, predominantly the euro," de Morais said yesterday.
The African country has $10.2 billion of foreign-currency reserves, according to data compiled by Bloomberg. De Morais said around 80 percent of the reserves are in dollars.
...Cutting Carbon
OPEC plans to invest in technologies to reduce carbon dioxide emissions as a means of ensuring demand for exports in a world that has become more aware of fossil fuel's contribution to global warming.
Climate change may continue for centuries, and governments will have to spend billions of dollars annually to slow warming and adapt to its effects, a United Nations panel said.
Warming is "unequivocal" and causing Arctic ice to melt, rain to decline in Africa and the Mediterranean, and sea levels to rise, the Intergovernmental Panel on Climate Change said today.
"Slowing and reversing these threats is the defining challenge of our age," UN Secretary-General Ban Ki-moon told a news conference in Valencia, Spain, today.
OPEC has proposed a $3 billion fund for research and development of carbon emission sequestration technology, Ivo de Boer, executive secretary of the UN Framework on Climate Change, told a press conference in Riyadh yesterday.
"Since fossil fuels are going to be around for some time, we need to develop technology to reduce" carbon emissions, Saudi Arabia Oil Minister Ali al-Naimi said yesterday.
Ecuador is expected to rejoin OPEC this weekend, bringing its membership to 13 nations. The heads of state summit is the third since OPEC was founded in 1960.
* * *
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Vancouver, British Columbia, Canada
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RE: u.s.a. is strating to have many problems to solve -
spec. to be a copycat of bolshevikz ussr -
9/11 destrutions Freedom and Liberty in America -
continue -
like it did in Great Russia -
the ussr bolsheviks gaining lots of red power again? -
history repeat itself -
http://news.bbc.co.uk/2/hi/europe/7083186.stm
U.S. Raids Issuer of Ron Paul Coins
By Joseph Goldstein
New York Sun
Friday, November 16, 2007
http://www.nysun.com/article/66542
God Bless America
NYBob
17 years ago
Northern Sun extends land acquisition & management agreement
TSX-V: NSE
CALGARY, Oct. 15 /CNW/ -
NORTHERN SUN EXPLORATION COMPANY INC.
(the "Company") is pleased to announce that it has
signed a 5 year extension on its Land Acquisition and
Management Agreement ("Agreement") with the Ka'a' gee Tu
First Nation community (the "First Nation"), to explore
for petroleum and natural gas substances within
the First Nation's traditional land base (the "Lands").
The Company, in partnership with the First Nation and
subject to the rights issuance process, will pursue oil
and gas development over the First Nation's traditional
lands, through an agreement designed to provide
the First Nation's people with shared control and
management of such resources, and to generate benefits
and revenue from development on their Lands.
The Agreement contains a number of environmental,
social, business development, and economic strategies
and components.
Where exploration and development are to take place on
the Lands, the First Nation will ensure it fully
participates in the management of;
environmental impacts, overall development disturbances,
equity participation and other working alliances selection.
The First Nation is currently undertaking discussions
with certain Governments (the "Governments") in respect
of this initiative.
Consistent with the Governments direction towards promoting
and assisting the First Nations' efforts to realize
their goals, the First Nation anticipates that its
ongoing discussions will result in a successful outcome
in the very near future.
Northern Sun -
will provide technical and other support to facilitate
these discussions surrounding exploration and development
within selected areas of the First Nation's Lands.
The Lands cover several million acres in the Canadian north.
Due to the 1975 Berger Inquiry which resulted in a
moratorium on exploration and resource development
throughout the north, it is one of the largest
under-explored land bases in North America and
considered to be an extremely oil and gas-rich basin -
several pre-moratorium exploratory wells drilled in
the early 1970's encountered natural gas.
Northern Sun -
is an Alberta-based exploration and production company
with operations in Alberta, Saskatchewan and
the North West Territories.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NORTHERN SUN EXPLORATION COMPANY INC.
"Chris Cooper"
President & CEO
http://www.northernsunex.com/
This release includes certain statements that may be deemed "Forward-looking statements". All statements in this release that address future production, reserve potentials or exploration drilling, are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this news
release.
Source: Canada NewsWire (October 15, 2007 - 12:59 PM EDT)
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