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Conventional Gas - Trenton-Black River
Note: Updated as of June 2009
 New York
In New York, the Corporation is focused on exploration of the prolific Trenton-Black River formation, a conventional gas reservoir target within its Empire project. The Corporation’s acreage position covers Schuyler, Steuben, Chemung and Tioga counties, consisting of approximately 32,000 gross (16,000 net) leasehold acres as of May 2009. The Corporation holds various working interests in well units from less than 1%, up to 15%. Fortuna Energy, Inc., a wholly owned subsidiary of Talisman Energy, Inc. (“Fortuna”), is the operator and holds a majority interest in all wells drilled to date. The Corporation has leveraged Fortuna’s operating expertise, including utilizing 3D seismic and horizontal drilling techniques, which in turn has resulted in higher production rates and fewer exploratory dry holes. Production rates from wells in New York’s Trenton-Black River formation can range from 3.0 to 40.0 MMcf/d.
The Corporation’s New York leasehold acreage is also prospective for the Marcellus shale. Competitor companies are actively permitting Marcellus shale wells in and around the Corporation’s leasehold acreage in New York.
The Corporation is currently evaluating potential exploration, development and production opportunities in the Marcellus shale, including but not limited to participating in competitor wells, developing its existing leasehold acreage and/or forming joint venture agreements with other companies. |
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