DELP holds an approximate 100% W.I. in 324,000 acres offshore Lake Erie from which only dry natural gas is produced. No oil or condensate is produced from offshore wells. The location of DELP’s natural gas assets provides marketing access to the Dawn natural gas storage hub and the large consuming market in the Greater Toronto Area.

 

Lake Erie natural gas is produced from Silurian age sandstone and carbonates at a maximum geological depth of 550 meters. The main producing horizons are the Grimsby, Whirlpool and Guelph formations. Going forward DELP will evaluate existing wells for recompletions and will identify new prospects for future drilling.

 

100 percent DELP-owned Offshore Natural Gas Assets (June 2015)

 

Production 11.8 mmscf/d
Proved reserves 88.9 bcf with a reserve-life-index of 25.7 years based on total proved*
2D offshore seismic over 8,500 km
3D offshore seismic 292 square km

 

* Dec 31, 2014 independent evaluation by AJM Deloitte Petroleum Consultants

 

2015 Work Program

 

• Workovers on existing wells to improve production rates
• Exploit shallow gas-bearing zones in existing wells
• Identify natural gas prospects for future drilling
• Continue the government-approved program to abandon shut-in wells