The Shallow Gas resource play is the oldest, largest, and most profitable in our portfolio. Much of what we have learned about resource plays comes from this play. In 2004, our cumulative gas production from the Suffield area within this prolific play surpassed two trillion cubic feet — more than the original estimate of ultimate recoverable reserves. After more than 30 years, gas production from our Shallow Gas resource play is at record levels, and is largely contained in two contiguous blocks covering about 4.0 million net acres.

We have developed an expansive data bank of well and reservoir information over the years and, as a result, well performance is often highly predictable. Since the mid 1980s, we have generally reduced or maintained costs and improved drilling and completion performance. Drilling and completion equipment has become lighter and more mobile; this has helped to increase efficiencies and decrease the environmental footprint of operations. Natural gas production averaged 726 million cubic feet per day (MMcf/d) in 2007.

Please read about our Restructuring announced May 11, 2008.
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