Question-and-Answer Session
Operator
Thank you, Mr. Buterbaugh. (Operator Instructions). Your first question is from Ellen Hannan of Weeden & Co.
Ellen Hannan - Weeden & Co.
A couple of questions, Glenn. In the Fort Worth Basin, I believe you have an inventory of 150 wells that have been drilled and not completed. How many of these you plan to complete so to sales in 2010?
Glenn Darden
Ellen, I guess the 150 number will be at year end probably, 2009. Of that number, give or take 50 or so is always in the inventory of uncompleted wells. So, let's take a 100 well inventory to work off. We're estimating roughly half of that number in 2010 and the remaining number?
Ellen Hannan - Weeden & Co.
So roughly?
Glenn Darden
Beg your pardon
Ellen Hannan - Weeden & Co.
Well, 50 wells per sit completed.
Glenn Darden
Yes.
Ellen Hannan - Weeden & Co.
Further in next year, how much capital do you need to devote to fulfilling your commitments in the Eni Alliance in 2010?
Rick Buterbaugh
Yes Phil.
Phil Cook
It's about $150 million.
Ellen Hannan - Weeden & Co.
Okay. Then last one from me, can you say how much money you will spend in 2010. Up in the now Horn River you mentioned that you need to drill a certain amount of wells to hold leases, can you give us an outlook on that?
Glenn Darden
We’ll drill two more wells as scheduled at this point, which are actually converting the exporter licenses to leases. So a part of that requirement and we’ll complete both of those wells and than we'll, as anticipated, we will accelerate in 2011, probably drill as many as four wells up there. So, still just kind of lease holding at this point but learning more about the reservoir and putting in infrastructure for longer-term development.
Ellen Hannan - Weeden & Co.
Right.
Glenn Darden
One think I would like to back up on the Barnett side, what you are going to see on the budget and we haven’t gotten that approved at the Board level yet but soon to come. You are going to see a more balanced approach across the Barnett sell like Lake Arlington and Alliance more so than this year
Ellen Hannan - Weeden & Co.
Any idea how much capital you spend in Horn River next year?
Phil Cook
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