This BOE Intel report will take a look at activity and production results from the Cardium over the last five years. We have analyzed well data since the beginning of 2018 to determine trends in industry activity levels, as well as who is drilling the best Cardium wells and where those wells are. Our analysis has incorporated over 1,300 well spuds targeting the Cardium in that time.
Since the beginning of 2018, Peyto Exploration has drilled the most Cardium wells with 189 spuds, followed closely by Whitecap Resources and Bonterra Energy. The rest of the list is below:
While the number of wells drilled by industry fell off a cliff during the Covid crash, Cardium activity has since recovered quite well, with 2022 spuds being the highest since 2018.
For production results, we decided to look at the Top 50 Cardium Oil Wells based on an IP12 month basis. Basically which Cardium wells produced the most oil over a 12 month period. Usually our TOP WELL REPORTS have analyzed monthly production rates, but shallower and lower cost plays like the Cardium will almost never make that list. Also, a full year of production will give us a better sense of which Cardium wells really have been the best. Of course many of the newer spuds will not have 12 months of production results and so will not be well represented on this list.
To see them all on a map on Petro Ninja, along with their production results, click the link below:
TOP 50 CARDIUM OIL WELLS (see on map)
Some interesting observations come out of this data:
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LOCATION OF TOP 50 CARDIUM OIL WELLS
TOP CARDIUM OIL WELLS FROM WAPITI
TOP 50 CARDIUM OIL WELLS