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Mooney, Alberta
KEY FACTS
| Working interest | 100% | 
Click to Enlarge |
| Land |
46,490 net acres |
| 2P reserves |
8.7 mmbbls |
| API |
16° oil |
Q2 2010
production |
980 boe/d |
| Depth |
900 metres |
| Formation |
Bluesky |
2010 PLANS
- Finalize optimal mix of alkali, surfactant and polymer in prepration for commercial injection
- Obtain regulatory approval to proceed with a commercial ASP flood
- Apply to Department of Energy for reduced government royalties under its enhanced oil recovery program
- Initiate phase one of the commercial ASP flood including converting existing wells to injectors and constructing water and chemical handling facilities
- Total capital program of $25 - 30 million.
Mooney is a conventional heavy oil property located in north-central Alberta. BlackPearl currently has a 100% working interest in 79 sections in the Mooney field. The Mooney field produces mainly from the Bluesky sand formation, at a depth of approximately 900 metres.
BlackPearl has been operating the Mooney property for about five years. The field was initially developed using primary production; however, the Company believes the performance of the Mooney field will be enhanced through Alkali Surfactant Polymer (ASP) flooding. ASP flooding involves adding a polymer chemical to the water to thicken it and additional alkali and surfactant chemicals to mobilize additional reservoir oil. This water and chemical mix is then injected re-pressurizing the reservoir and sweeping additional oil to the producing wells. Primary production is expected to recover 3-5% of the oil-in-place. An ASP flood is expected to boost recovery to 20-30% of the oil-in-place. Mooney has an estimated 150 million barrels of petroleum-in-place (internal estimate) so any increased recovery represents a significant amount of additional oil. To date, a three well polymer pilot, operating for about 18 months, has recovered over 18% of the oil in place. As a result of the success of the polymer pilot, in late 2009, the Company filed a development application with the ERCB to commence a commercial ASP flood at Mooney. If approved, the first phase of the flood will likely commence in late 2010 or early in 2011. This will initially involve the conversion of producing wells to injectors and installing water and polymer handling facilities. It is expected that it will take 8 to 12 months after initial injection before there will be a production response from the ASP flood. Future phases of the ASP flood will require drilling additional horizontal wells and expansion of the surface facilities.
The Alberta government has programs in place that encourage enhanced oil recovery developments by reducing royalties on fields with tertiary recovery programs. BlackPearl has submitted an application for royalty relief for its Mooney ASP flood project.
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