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Spyglass Resources Corp. Provides Details on Dixonville Pipeline Incident
Spyglass Resources Corp. Provides Details on Dixonville Pipeline Incident.
About this update from Spyglass Resources Corp
[{"type":"text","content":"\n \n \n Spyglass Resources Corp. Provides Details on Dixonville Pipeline Incident\n \n \nSpyglass Resources Corp. Provides Details on Dixonville Pipeline Incident\n \n CALGARY, ALBERTA--(Marketwired - Jun 27, 2014) - \n All values are in Canadian dollars unless otherwise indicated. Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1.\n Spyglass Resources Corp. (\"Spyglass\", or the \"Company\") (TSX:SGL)(OTCQX:SGLRF) announces that on June 26th in the Dixonville area of Northern Alberta a leak occurred on an emulsion pipeline that carries a mixture of oil and water. Spyglass personnel immediately shut-in the pipelines, contained the incident to within the surface lease and notified the Alberta Energy Regulator (\"AER\"). It is estimated that less than 10 cubic meters of fluid with approximately 10 percent crude oil and the remainder produced water was released as a result of this incident.\n Subsequent to this incident, the AER issued a shut-in order for the Dixonville oil field, pending internal pipeline inspections and repair activities, which commenced in May of 2014. Spyglass continues to work with the AER to return the field to production in a safe and appropriate manner. It is anticipated that production will return in stages as pipeline integrity is confirmed and the various line segments are deemed safe to operate. \n The Company is evaluating the cumulative financial and operating impact of the incident and will provide an update when further information becomes available.\n Spyglass Resources Corp. is a dividend paying intermediate oil and natural gas producer, headquartered in Calgary, Alberta and currently operates oil and gas properties in Western Canada. \n Reader Advisory and Note Regarding Forward Looking Information\n Certain statements contained within this press release, and in certain documents incorporated by reference into this document constitute forward looking statements. These statements relate to future events or future performance. All statements, other than statements of historical fact, may be forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as \"seek\", \"anticipate\", \"budget\", \"plan\", \"continue\", \"estimate\", \"expect\", \"forecast\", \"may\", \"will\", \"project\", \"predict\", \"potential\",...