Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Michael Bodino - Coker and Palmer.
Michael Bodino - Coker and Palmer
Couple of follow-ups here relative to Piceance Basin, first of all, can you give us any breakdown on those incremental reserves from proved developed and proved undeveloped, kind of as we sit 1-1-08?
Roger A. Parker
1-1-08 it was 31% proved developed.
Michael Bodino - Coker and Palmer
And so there’s quite a few wells already drilled on this new acreage, transaction acreage.
Roger A. Parker
Actually we don’t have the percentage proved developed. Percentage proved developed would actually be fairly light and on the order of about 12%.
Michael Bodino - Coker and Palmer
And this new acreage, I know some of it you already have interest in, but the newest acreage you’re picking up, was there a lot of data points there? Is it consistent in terms of the waves form in terms of thickness, reserves per well?
Roger A. Parker
Yes, we have numerous well bores that identify a thickening gas column and are very consistent with estimated ultimate recovery maps that we’ve got in our investor presentation materials. If you looked at those materials you’ll see that we have the expectation of increasing per well reserve recoveries on the acreage as you move north from the Vega unit area and all of this acreage is concentrated in that area.
So, yes, we do have the expectation. We do have numerous data points and a very good expectation of increasing per well reserve recoveries.
Michael Bodino - Coker and Palmer
And then can you kind of walk me through first quarter, second quarter, either on a gross or net basis, production volumes as this next phase of the coal burning gathering system comes online, kind of what you expect from a delta perspective?
Roger A. Parker
Yes, if you also look in our investor presentation materials, you’ll see on the slide for the area we have a bar chart showing anticipated production growth throughout 2008. What you see is that we expect an average of about 45 million cubic per day for the second quarter of ?08, topping out at 60 million cubic feet per day in the third and fourth quarter of ?08, and that is limited by pipeline capacity until the expansion project is complete.
Michael Bodino - Coker and Palmer
So, this acquisition is not really additive to that second quarter volume number, or is it?
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