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Athabasca Oil Sands Corp. Provides Light Oil Operations Update on its Kaybob Property in the Deep Basin
CALGARY, Feb. 6, 2012 /CNW/ - Athabasca Oil Sands Corp. (TSX:  ATH) is pleased to prov...
About this update from Athabasca Oil Corporation
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Feb. 6, 2012 /CNW/ - Athabasca Oil Sands Corp. (TSX:  ATH) is\n pleased to provide a light oil operations update for its Kaybob\n property located in the Deep Basin area of northwestern Alberta.\n\n\nThe company recently drilled and completed its first Montney horizontal\n well in the Kaybob East area, located at 13-22-64-18W5.  The 1,220\n metre lateral was fracture stimulated with 14 stages of energized oil\n treatments and was flow tested during 78 hours. During the final 24\n hours of the test and after having recovered all the load fluids, the\n well flowed at an average rate of 2,560 barrels of oil equivalent per\n day (boe/d), (2,265 barrels per day (bbl/d) of 41 degree API oil with\n 1.8 million cubic feet per day (mmcf/d) gas), at a stabilized flowing\n pressure of 450 pounds per square inch gauge (psig). The well is\n currently shut in until it can be connected to infrastructure. The\n company holds a significant land position offsetting this well and will\n continue the delineation of the Kaybob East acreage throughout first\n quarter of 2012.\n\n\nIn late fourth quarter of 2011, Athabasca also drilled and completed its\n second Kaybob Nordegg horizontal well at 04-11-63-20W5, offsetting its\n first successful Nordegg well at 13-14-63-20W5.  After completing the\n 16 stages of slickwater fractures, the 04-11 well flow tested at a\n final rate (after four days of clean up) of 420 boe/d, (335 bbl/d of 41\n degree API oil and 500 thousand cubic feet per day (mcf/d) gas), at a\n flowing pressure of 910 psig. Based on the success of this second\n Nordegg test, the Company will focus its Nordegg delineation on the\n Kaybob area with further horizontal drilling, core analysis and\n incorporation of the Company's recently acquired 3D seismic dataset.\n\n\nThe company has drilled two more Montney horizontal wells and one\n Duvernay horizontal well in the Kaybob area and expects completion and\n testing to be performed over the next few weeks.\n\n\nDevelopment of the Kaybob area will benefit from Athabasca's decision to\n build its 100% owned infrastructure in 2012.  The construction of the\n 63-kilometre, 12 inch gas pipeline from Kaybob to the Simonette gas\n plant is on schedule and is expected to be completed in the first\n quarter of 2012.  In the second quarter of 2012, the Co...