Developing a massive oil and liquids rich Montney resource at Elmworth/Gold Creek
Iron Bridge Resources is a pure-play Montney oil and gas producer with a significant land base in Alberta situated in the highly economic oil window of this world class resource
In October of 2017, RMP Energy Inc.’s new management team conducted a sale of all properties other than Elmworth and changed the name to Iron Bridge Resources Inc. The resulting company consisted of:
- Approximately 2,200 boe/d of production
- 52,800 net acres of land at Elmworth/Gold Creek
- Zero debt
- Approximately $45mm of cash and investments
The Elmworth and Gold Creek areas around Iron Bridge’s lands have been the focus of significant industry activity recently. As one of the first companies to recognize the resource potential of this normally pressured volatile oil window, our significant acreage position was established for a fraction of the continually increasing land values in the area.
Montney Oil Window
- IBR lands within the deep basin transition from over-pressure in the SW to normal or slightly under-pressure to the NE. This oil charged system is regionally continuous, thick, porous and permeable, which equates to large recoverable resource. With it comes mobile water resulting in high watercut
- High watercut isn’t an issue due to abundant and inexpensive proven water disposal options in the Cardium, Cadotte and Belloy
Iron Bridge Properties
Elmworth / Gold Creek
Iron Bridge lands are located in the Montney, regionally continuous, volatile, & light oil window. The total Montney package is consistently over 200m thick on Iron Bridge lands, and being within the transition from the tight deep basin gas system to the more conventional Montney aquifer located up-dip to the northeast, the Montney is porous, permeable, and normally pressured on Iron Bridge acreage. These favorable reservoir parameters result in large in-place resource, as well as large recoverable oil, gas-liquids, and gas resources. In addition to good quality reservoir, the Montney in this area has beneficial geo-mechanical properties that lend it to high quality completions. The result is very high deliverability oil wells with associated gas and NGL’s. With high quality reservoir comes mobile water resulting in high watercuts. However, high watercut wells are not an issue in this area due to abundant and inexpensive proven water disposal options in the Cardium, Cadotte and Belloy Formations.