Cenovus Energy has plans to expand its natural gas drilling operations in the Peace Region.
This would be on land it recently acquired from ConocoPhillips, a chunk called the deep basin that stretches from west of Red Deer into the B.C. Peace.
Company Vice-President Drew Zieglgansberger says Cenovus sees “a number of opportunities” in this area.
“I think across the Deep Basin areas that we purchased, we see about 1500 drilling locations even at today’s prices that we probably want to look at doing. Obviously, we wouldn’t want to come out of the gate and do that all at once but you know we are going to have a measured pace on how we go after that.”
He adds Cenovus will start some work this summer with one rig in the area, expanding between 10 to 12 next year and 15 to 10 in 2019 and would also be done to increase production from existing wells.
Zieglgansberger says this should mean more jobs.
“With more of the service sector and some of the other vendors, obviously, we are going to ramp up activity so we are going to need more people from the area for more of the service sector side to probably help us but as we get into that bigger program in 2018 and 2019 we’ll have to look at which areas are we focusing (on) and do we have enough operators and enough people to safely operate what we want to do.”
(Photo thanks to Cenovus Energy website)