Perpetual Energy Inc. engages in finding, exploiting, producing, and marketing oil and gas based energy. The company’s business primarily consists of operations in Alberta focused on the development and production of shallow natural gas from mature producing regions in eastern Alberta where it has an established gathering, processing, and transporting infrastructure; the exploration and extraction of heavy oil from properties geographically synergistic with the eastern Alberta gas assets; exploring and developing its natural gas, natural gas liquids, and tight oil resource growth opportunities in the deep basin in west central Alberta; bitumen opportunities in northeast Alberta; and the gas storage facility business where the company has a gas storage facility at Warwick in east central Alberta. As of December 31, 2011, the company had 484.7 billion cubic feet equivalent (80.8 million barrels of oil equivalent) of proved and probable reserves. Oil and Gas Properties Northern District Athabasca: The Athabasca area is located in northeast Alberta and consists of 630,610 net acres (48.7% undeveloped) with an average 72.5% working interest in 537 gross (389.2 net) producing natural gas wells. Northeast: The Northeast area is located in northeast Alberta and consists of 1,132,494 net acres (52.7% undeveloped) with an average 84.1% working interest in 566 gross (475.8 net) producing natural gas wells. Bitumen: The Bitumen area is located in northeast Alberta and comprises 335,979 net acres (99.5% undeveloped) with a 100.0% working interest in northeast Alberta across 7 districts, including Panny, Liege, Wabasca, Hoole, Ells, Calling Lake, and Marten Hills. Bluesky Contingent Resource in Panny Area: The company holds approximately 41,400 hectares (162 net sections) of oil sands leases in the Panny Area of northern Alberta. Hoole and Marten Hills Areas: The company holds approximately 41,000 hectares (161 net sections) of oil sands leases in the Hoole and Marten Hills areas of northern Alberta. Liege Area: The company holds 30,720 hectares (120 net sections) of oil sands leases in the Liege area. In 2011, it acquired 42 kilometers of 2D seismic and drilled 3 wells, which encountered bitumen-saturated reservoir in the Wabiskaw, as well as in the Grosmont A, B, and C and Leduc carbonate formations. Southern District Birchwavy East: The Birchwavy East area is located in east central Alberta, east of Edmonton Alberta and consists of 386,019 net acres (51.9% undeveloped) with an average 86.2% working interest in 429 gross (369.7 net) producing natural gas wells. Birchwavy West: The Birchwavy West area is located in east central Alberta, east of Edmonton and includes 470,866 net acres (51.9% undeveloped) with an average 69.2% working interest in 500 gross (346.2 net) producing natural gas wells. Mannville Heavy Oil: The Mannville Heavy Oil area is located within Bichwavy East, in the Mannville area and consists of 136,878 net acres (26.6% undeveloped) with an average 80.9% working interest in 54 gross (43.7 net) producing oil wells. The production in the Mannville Heavy Oil area is 100% operated and processed through third party facilities. West Central District Carrot Creek: The Carrot Creek area is located in west central Alberta, west of Edmonton and consists of 24,795 net acres (24.1% undeveloped) with an average 66.6 % working interest in 50 gross (33.3 net) producing natural gas wells. Edson: The Edson area is located in west central Alberta, west of Edmonton and consists of 56,192 net acres (60.7% undeveloped) with an average 87.3% working interest in 64 gross (55.9 net) producing natural gas wells. Elmworth: The Elmworth area is located in west central Alberta, south of Grande Prairie and consists of 29,856 net acres, including an average 50.0% working interest in 1 gross (0.5 net) producing wells. Pembina: The Pembina area is located west of Edmonton Alberta and consists of 21,967 net acres (68.8% undeveloped) with an average 72.8 % working interest in 18 gross (13.1 net) producing natural gas wells. West Central Other: Other non-core assets in the West Central area include 56,048 net acres (89.6% undeveloped) with an average 83.3% working interest in 3 gross (2.5 net) producing natural gas wells. New Ventures As of December 31, 2011, the company had a 100% working interest in 20,230 net acres (100% undeveloped) of land targeting new oil and gas exploration concepts. Dispositions In 2011, the company disposed of various non-core oil and gas properties, and undeveloped Cardium lands in west central Alberta. In May 2011, the company sold certain properties in the Pembina area, which was located west of Edmonton Alberta. In February 2012, the company divested the Gold Creek/Karr area, which was located northwest of Edmonton. History Perpetual Energy Inc. was founded in 2002.
perpetual energy inc (PMT:Toronto)
605–5th Avenue SW
Calgary, AB T2P 3H5
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