Trilogy had a successful year drilling in the Grande Prairie area in 2007, supporting the investment decision to acquire Redsky Energy and Blue Mountain Energy in 2006. The Trust remains challenged by limited access to non-operated facilities; however, we have been able to invest additional capital in pipelines and compression to transport Trilogy’s natural gas to central processing facilities.
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GRANDE PRAIRIE
Trilogy has been actively conducting recompletions and workovers on marginal producers and shut-in Grande Prairie wells to increase production over the past year. The Trust entered the year at approximately 1,800 Boe/d and exited at approximately 2,200 Boe/d, maintaining an average of 1,888 Boe/d for the year. Several high deliverability wells suffered significant production restrictions due to a lack of capacity in existing gathering and processing systems. Projects are planned for 2008 to mitigate some of these constraints. Trilogy is optimistic regarding the future development of the Grande Prairie area and believes that its growing prospect inventory, increased capital spending and aggressive land sale acquisitions as well as risk reducing farm-ins will help grow the area. Trilogy will continue to evaluate acquisition opportunities to enhance its current operations. |