Central Mackenzie Valley,
Northwest Territories
IFR was the first junior oil & gas company to acquire acreage and to promote exploration in the Central Mackenzie Valley ("CMV"). The CMV is one of the last under-explored hydrocarbon provinces in North America. The basin has the potential to yield world class discoveries in a politically stable country that offers one of the best fiscal regimes in the international oil sector.
The Company holds an interest in two Significant Discovery Licenses ("SDL") the Summit Creek SDL covers the Summit B-44 discovery area, where the B-44 well production tested 20 million cubic feet per day and 6,300 barrels of light oil per day (10,000 BOEPD) from two Devonian age reservoirs. The second SDL covers the Stewart Lake discovery which is located 30 kilometers south of the Summit SDL. The Stewart well tested 5 million cubic feet per day (un-stimulated) from Cretaceous age sandstones. The SDL acreage does not expire until all reserves are produced from the lands.
In 2011 the National Energy Board ("NEB") granted its approval for a gas pipeline that would connect gas reserves in the Mackenzie Delta and Central Mackenzie Valley to Northern Alberta. The proponents of the pipeline have until 2013 to notify the NEB if they will be proceeding with the pipeline.
As of November 2011 IFR has participated in 9 exploration wells, 3 gravity surveys and 5 seismic surveys, at a cost of approximately $165 million (gross), $24 million net to IFR. Of the 9 wells drilled hydrocarbons were discovered in 3 wells yielding a success rate of 33.33% on exploratory wildcat drilling.
In July 2011 eleven licenses were awarded in the CMV, the licenses cover approximately 2.2 million acres; the acreage was awarded for total work commitments of $535 million. This was the largest land sale ever recorded in the CMV. Successful bidders at the July land sale include applicants for the Mackenzie Valley gas pipeline. Given the magnitude of the $535 million in work commitments the area will see new seismic and drilling over the next 5 years.
With the advancement of horizontal drilling and multi-stage-fracture-stimulation the CMV is now prospective for new shale oil & gas plays. Should new shale plays result in commercial discoveries then the value of our acreage in the CMV will increase significantly.
Photo Gallery
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 Mackenzie Valley |
 Stewart D-57 Discovery Well (2006) |
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) Access Road |
) NWT Airstrip |
) B44 Location |
) B44 Wellhead |
) Ice Bridge |
) Nodwell |
) NWT in the Summer |
) Rig Move |
) Staging Site |
) Summit Creek B44 Wilma |
) Summit Mountain in Summer |
) Summit in Summer |
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Photo Gallery - February 2005
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) Flintstone NWT |
) Seismic Camp |
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) Heliportable Seismic |
) Seismic Drill |
) Seismic Recording Shack |
) Wilma B44 Completion Rig |
) Sah Cho L71 Exploratory Wildcal Well |
) NRK Winter Road |
) NWT L-71 Akita 40 - February 2005 |
) Betty - Sah Cho L-71 |
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