ARC Resources

Title: ARC Resources
Category: Energy
Clicks: 14
Added on: Jun 16, 2012
ARC Resources is a Canada-based leading gas and oil company and a member of the S&P/TSX 60. The company is listed on the Toronto Stock Exchange under the ticker ARX. The main competitors of the company are Provident Energy Ltd., Pengrowth Energy Corporation, Enerplus Corporation, and others.

Formed in 1996, the ARC Energy Trust was established with the acquisition of a number of properties from Mobil Oil. The company experienced consistent growth and by 2000, it became one of the largest gas and oil royalty trusts in Canada. The same year, the company acquired key producing assets in Alberta. In 2001, the trust acquired Startech Energy, which boosted its production capacity by about 16,000 boe/day. ARC Resources became the first gas and oil trust that eliminated an external management contract along with associated future fees in 2002. In 2011, ARC became a corporation committed to delivering outstanding value and returns to its owners.

A key asset of ARC Resources is the Dawson gas field, which is situated close to Dawson Creek in the northeastern part of British Columbia. Another major asset of the company is Northern Alberta due to the high netbacks, low operating costs, low-risk drilling targets, and a diverse base of non-operated and operated assets. Ante Creek is another major asset, and the company has interest of 97 percent in the gas and oil play situated there. ARC Resources utilizes multistage fracturing to exploit the wells drilled, which has resulted in improved production results. Another key area that presents exciting opportunities is the Redwater oil field. This is one of the most prolific and largest oil discoveries in Canada. The company has managed to increase production through drilling Leduc wells, reactivating old wells, and following good production practices. ARC Resources teams up with Natural Resources Canada and Energy and Environmental Solutions, working jointly on the Heartland Area Redwater Project in the area. The aim is to evaluate and test the porous, water saturated space of the Redwater reef and the possibility to use it for storage space for CO2 emissions.
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