Mosaic Energy Ltd.
Mosaic is an intermediate-sized private company that is focused on the horizontal development of resource-style oil and gas reservoirs in the Western Canadian Sedimentary Basin. The company has significant land ownership in several high impact plays including:
- the Dunvegan light oil and the Montney and Wilrich liquids-rich natural gas plays in Jayar and Latornell (Alberta Deep Basin)
Although much of our potential has been largely de-risked by successful industry activity, Mosaic is still in an early stage of development in many of these plays, all of which offer significant growth potential beyond our current production and reserves. In particular, having drilled only 6 horizontal wells on our 160 sections of rights in the rapidly developing Jayar, Latornell and surrounding areas, only a small portion of the ultimate potential has been reflected in the reserves booked at year-end 2012.
2013 will see Mosaic implement its largest capital program since starting operations in 2005. More than 90% of that capital will be directed to drilling, completion and facilities with a primary objective of accelerating the recognition of reserves and value.
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