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TOP WELL REPORT – Charlie Lake formation – Does this light oil play have the lowest break-even price in North America?

January 20, 20237:10 AM Dan Rutherford

We continue to notice impressive Charlie Lake oil wells popping up on our overall TOP WELL REPORTS, and thought it would be a good idea to see which companies had the highest oil rates in the play for the month of November. While we decided to only analyze the oil rates, it should be noted that these wells do sometimes come with a significant amount of natural gas as well, so looking at them on a combined BOE/d analysis may give slightly different results.

Interestingly, Tamarack Valley calls this play the “lowest breakeven play in North America” in their corporate presentation (pg.11), citing data from Peters & Co.

You can click on the link below to view all of the top Charlie Lake wells on one Petro Ninja map, or you can click on the UWIs below to view each well individually.

TOP 15 CHARLIE LAKE OIL/CONDENSATE WELLS (see on map)

Some interesting wells to note in here:

  • Kelt Exploration had 4 of the top 15 Charlie Lake oil wells, including the top 2 which made it into the overall top 15 oil wells for the month. The top two wells had oil rates of 953 bbl/d and 862 bbl/d in the month of November.
  • Tamarack Valley had 5 of the top 15 Charlie Lake oil wells, as the company continues to drill impressive oil wells into the play, following up on the successes of Anegada, which Tamarack acquired back in April of 2021.
  • Longshore Resources (private) had 4 of the top 15 wells.
  • Tourmaline had 1 well make the Top 15 which has been a solid producer since being put on production in March of 2022, having cumulatively produced almost 200,000 barrels of oil to date.
  • Whitecap Resources had 1 well from Valhalla make the list. That well was put on production in April 2022 and is over 130,000 barrels of oil cumulatively produced.

TOP 15 CHARLIE LAKE OIL WELLS – NOVEMBER VOLUMES

Licensee UWI Field Name Formation Monthly Liquids Production (bbl) Daily Average Liquids (bbl/d) Daily Average Gas (mcf/d) On Prod Date Monthly Prod Hours Cumulative Liquids (bbl)
Kelt Exploration Ltd. 100022207808W600 Valhalla Charlie Lake Fm 28,598.0 953.0 1,014.0 2022-10-09 586.0 28,978.0
Kelt Exploration Ltd. 100012407207W600 Grande Prairie Charlie Lake Fm 25,854.0 862.0 2,836.0 2022-09-02 45,260.0
Tamarack Valley Energy Ltd. 100152407109W600 Wembley Charlie Lake Fm 20,268.0 676.0 2,436.0 2022-07-01 673.0 57,991.0
Longshore Resources Ltd. 100032308009W600 Bilawchuk Charlie Lake Fm 19,159.0 639.0 3,688.0 2022-08-20 77,616.0
Longshore Resources Ltd. 100143407610W600 Valhalla Charlie Lake Fm 18,340.0 611.0 2,609.0 2022-09-27 706.0 47,488.0
Tamarack Valley Energy Ltd. 100032407209W600 Wembley Charlie Lake Fm 18,156.0 605.0 1,956.0 2022-09-10 695.0 43,830.0
Tamarack Valley Energy Ltd. 100031107209W600 Wembley Charlie Lake Fm 16,014.0 534.0 1,061.0 2022-08-28 37,510.0
Tourmaline Oil Corp. 100152207907W600 Mirage Charlie Lake Fm 14,000.0 467.0 4,220.0 2022-03-01 713.0 194,547.0
Kelt Exploration Ltd. 100160807808W600 Valhalla Charlie Lake Fm 13,436.0 448.0 947.0 2022-07-27 702.0 28,212.0
Tamarack Valley Energy Ltd. 100021107209W600 Wembley Charlie Lake Fm 12,754.0 425.0 875.0 2022-08-27 39,431.0
Tamarack Valley Energy Ltd. 100021607108W600 Wembley Charlie Lake Fm 12,649.0 422.0 1,289.0 2022-06-01 665.0 103,120.0
Longshore Resources Ltd. 102143407610W600 Valhalla Charlie Lake Fm 12,381.0 413.0 4,096.0 2022-10-01 714.0 29,627.0
Longshore Resources Ltd. 102011108010W600 Gordondale Charlie Lake Fm 11,563.0 385.0 3,081.0 2022-09-02 35,190.0
Kelt Exploration Ltd. 100092507808W600 Valhalla Charlie Lake Fm 11,427.0 381.0 2,732.0 2022-11-03 607.0 11,428.0
Whitecap Resources Inc. 100020207609W600 Valhalla Charlie Lake Fm 11,321.0 377.0 626.0 2022-04-07 130,711.0

Kelt Exploration Longshore Resources Ovintiv Tamarack Valley Tourmaline Whitecap Resources

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