Doug Bailey, Operations Manager for Corridor Resources, was introduced by Bob Black. Doug has a mechanical engineering degree from the University of Alberta. He has over 30 years of experience in all aspects of design, construction and operation of oil and gas facilities and pipelines. He has worked for Gulf Canada, Niven Seville Engineering and the ATCO group before joining Corridor Resources.
They presently have 26 wells producing at 11 pads and a gas processing plant, having started production in June 2007. They have a staff of 9 currently, mostly all returning from western Canada. He gave us an exciting overview of the process. The cost of the project to date is $300 million. 75% of the $7.5 million annual operating budget is spent in N.B., of which 50% spent in the Sussex area. $75,000 in annual gifts and donations to the local area. They have added three new wells in 2009 (cost $500,000 a well). However, the capital expenditure budget has been reduced because of low gas prices.