Each week, XI Technologies scans their industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive XI’s Word to the Wise in your inbox, subscribe here.
In March, we presented our annual top ten lists for new well production, charting which companies had the most successful production from new wells in 2021. 2021 represented an upturn in our industry, with 2022 continuing the positive developments from the year before. Looking at the data for the first half of the year (Jan-June) can be a good way to track the optimism we’ve been seeing in the sector.
You can read the previous new well production top ten report for all of 2021 here, or if you’d like to compare the first half of 2022 to the first half of 2021, you can view that report here.
To find out how you can put this kind of drilling and production data to work for you, download a case study, or contact us for a quick demo of OffsetAnalyst and/or AssetBook.
More important than the number of wells drilled is the amount produced from those wells. Canadian Natural Resources Limited and Teine Energy hold the top two spots on this chart thus far. Arrows indicate how they compare to their ranking in 2021. CNRL made a huge jump in this list since 2021 when they were not in top ten at all.
Achieving a high initial production rate can have a significant impact on the overall ROI for a well or drilling program.
In the graphic below we’ve looked at IP 90 rates for new gas wells and oil wells drilled in 2021. Congratulations to Spartan Delta, Cenovus, and Murphy Oil for topping the current list.
Which operators achieved the best rates from their best oil wells drilled during the same time frame? So far, Insignia and Orlen Upstream top the field, neither of whom were in the top ten in 2021.
Which operators achieved the greatest gas production (in mmcf) from wells drilled in the WCSB in 2022? At this point, Tourmaline stays in the top position it held throughout 2021, with Canadian Natural Resources Limited in second and Peyto Energy in third (as each company was in 2021).
Which operators added the highest cumulative total oil production (in mbbl) from wells drilled so far in 2022? Cenovus claims the top spot, repeating their place from 2021. They’re followed by Whitecap Resources and Baytex Energy.
Congratulations to all our WCSB operators and producers for the improved success thus far in 2022. If you’d like a pdf version of this data, click here to download. Want to learn more about these top-rated operators and their high performing wells? Contact XI Technologies for a demo.