TOP WELL REPORT – Clearwater formation – Baytex, CNRL and Headwater lead the way in December

The December data is out for the top Clearwater wells. As always, we use calendar day production metrics so these are real volumes produced in the month.

The list of the top 15 Clearwater oil wells from the month of December is below. You can also click on the link here to view the wells all on one map, or click on the UWIs individually to see their location and production profiles on Petro Ninja.

TOP 15 CLEARWATER OIL WELLS (see on map)

Of note this month:

• Baytex continues to lead the way in the Clearwater, with all of the top 10 producing Clearwater oil wells in the month. Those wells ranged in production from 545 b/d all the way up to 972 b/d. According to the company’s presentation, Baytex plans to bring 33 net Clearwater wells onstream in 2023.
• Canadian Natural Resources had 4 of the top 15 Clearwater oil wells in the month, coming from Marten Hills. CNRL has “940,000 acres of net Clearwater acres with exploration upside” (from CNRL presentation) and continues to be quite active in the play.
• Headwater had 1 well in the top 15 for the month of December, with its top well coming from Marten Hills and producing at an average daily rate of 504 b/d of oil. Headwater has some intriguing exploration wells planned in early 2023, one each at Peavine and Seal, as well as 2 more at Utikima Lake following up on some Q4 drills in the area. At Peavine, Headwater has 4 wells licenced in close proximity to the Baytex development area, with those licences coloured in red on the map below.

TOP 15 CLEARWATER OIL WELLS – DECEMBER VOLUMES