Harvest Energy Trust (NYSE:HTE)
Industry: Basic Materials
Harvest Energy Trust is a Canadian conventional oil and natural gas royalty trust. The Company completed a strategic merger with Viking Energy Royalty Trust in February, 2006. It strives to maintain or increase cash flow per unit through its strategy of acquiring, enhancing and producing crude oil, natural gas and natural gas liquids. Distributions to unitholders are based on funds flow from operations, which are generated by the production and enhancement of properties within the Company's five key areas across Western Canada. The Company's reserve life index is 9.4 years, and its 2006 production volumes are expected to average approximately 60,000 barrels of oil equivalent (BOE) per day, weighted 50% to light/medium oil, 25% to heavy oil/oil sands production and 25% to natural gas. East Central Alberta The properties within the east central Alberta core area are located between T35-R1-W4 to T49-R2-W5M, and produce primarily crude oil. During the year ended December 31, 2004, the Trust's proved reserves in east central Alberta were 27,338.2 thousand barrels (mbbls) of oil, 18 mbbls of NGL and 4, 697 million cubic feet (mmcf) of natural gas, and production was 13,956 barrels of oil equivalent per day (boe/d) from 1,360 producing wells. Harvest acquired the Viking-Kinsella/Wainwright property from EnCana Corporation in September 2004. Production from these pools averages approximately 3,180 boe/d of 20(degree) API oil, producing from the Cretaceous Upper Mannville Sparky Formation. Harvest has an average 96% working interest in these operated properties. Original oil in place (OOIP) at Viking-Kinsella/Wainwright is estimated at 133 million barrels (mmbbls) on Harvest's working interest acreage. Production at the Hayter property averages approximately 4,500 boe/d of 14.8(degree) API oil, producing from the Lower Cretaceous Cummings/Dina formation. Harvest has an average 94% working interest in this operated property. OOIP at Hayter is estimated at 138 mmbbls of oil on Harvest's working interest acreage. Production from the Killarney property is 1, 105 boe/d of 20(degree) API oil, producing from the Lower Cretaceous Cummings/Dina formation. Harvest has an average 91% working interest in this operated property. OOIP at Killarney is estimated at 51 mmbbls on Harvest's working interest acreage. Production from the Thompson Lake property is 887 boe/d of 27(degree) API oil, producing from the Glauconite A pool. Harvest has an average 99% working interest in this operated property. OOIP at Thompson Lake is estimated at 50 mmbbls on Harvest's working interest acreage. Production from the Amisk property averages approximately 550 boe/d of 20(Degree) API oil. Harvest has an average 75% working interest in this operated property. Production from the Czar property averages approximately 367 boe/d of 16(degree) API oil, producing from the Dina formation. Harvest has an average 100% working interest in this operated property. The Halkirk/Leahurst properties are located near Stettler, Alberta, and were acquired by Harvest in September 2004. Production from these properties averages approximately 805 boe/d of 36(degree) API oil, producing from the Glauconite formation. A small amount of slightly sour gas is produced from this area as well. Harvest has 70% working interest in Leahurst and 96% in Halkirk. Southern Alberta The properties within the southern Alberta core area are located from T13-R6-W4M to T29-R29-W4M, and produce both crude oil and natural gas. Harvest acquired all Southern Alberta properties from EnCana in September 2004, and formed a new core area. In 2004, the Trust's proved reserves in Southern Alberta were 12,864.2 mmbls of oil, 1,376.7 mbbls of NGL and 52,688.8 mmcf of natural gas, and production was 12,723 boe/d from 295 producing wells. Production from the Suffield property is 6,900 boe/d of heavy oil, averaging 11 to 18(degree) API from the Upper Mannville Glauconitic formation. Harvest has an average 99% working interest in this operated property. OOIP at Suffield is estimated at 170 mmb
As Of: 10/07 00:00 ET
*Quotes delayed by 20min.
BuyIns.Net Alerts for Symbol HTE
- No BuyIns.Net Alerts Available for HTE
Graphs for HTE
3 Month Graph
6 Month Graph
1 Year Graph
