TOP WELL REPORT – February Volumes – Cenovus ends Ovintiv’s clean sweep of the top natural gas wells, while Tamarack Valley grabs number one spot on the oil side

The February data is out for the highest producing oil and gas wells in Canada. As always, we use calendar day production metrics so these are real volumes produced in the month.

The list of the top 15 liquids wells (oil + condensate) and top 15 natural gas wells based on production from the month of February is below. You can also click on the link below 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 OIL/CONDENSATE WELLS (see on map)

TOP 15 NATURAL GAS WELLS (see on map)

Notable oil/condensate wells:

• Tamarack Valley’s Charlie Lake well at Wembley was the number one oil producer on the month, averaging 1,099 bbl/d of oil. This is the first time we’ve seen a Charlie Lake well at the top, although this formation has been well represented in the top 15 as of late.
• Hammerhead Resources had 7 of the top 15 liquids wells, with these wells all coming from the company’s Montney development at Karr. These wells ranged from 674-1,070 bbl/d of oil in the month of February.
• Baytex Energy had 2 Clearwater oil wells make the list from the Peavine area. Those two wells produced at 719 bbl/d and 795 bbl/d.
• Spartan Delta Corp. had a Montney oil well at Elmworth that produced at an average rate of 701 bbl/d in February. This well and area is on its way over to Crescent Point after last week’s acquisition announcement.
• ARC Resources and Whitecap Resources had nearby Montney wells at Kakwa make the list, producing at 686 bbl/d and 690 bbl/d of condensate, respectively,  in the month of February. The Whitecap well has been a top producer for a while now, as it went over 500,000 bbls of condensate cumulatively produced since being first placed on production in 2020.
• Aspenleaf Energy had 2 of the top 15 oil wells this month, producing at rates of 698 bbl/d and 736 bbl/d of oil. Loyal readers will recall seeing Aspenleaf on this list back in October with a well that had a 4.3 km lateral length. These two wells are of a similar size and come from the Nisku formation offsetting Leduc No. 1.

TOP 15 OIL/CONDENSATE WELLS – FEBRUARY VOLUMES

Notable natural gas wells:

• Ovintiv dominated the top natural gas wells yet again, as the rates coming out of the company’s Montney development at Sunrise continue to be astounding. A few wells made it in from Ovintiv’s Swanlake area as well. Those wells seem to be almost as prolific on the natural gas side and do seem to come with an apparent higher liquids content, so this area is worth watching just as closely as Sunrise. Ovintiv had 14 of the top 15 natural gas wells, after sweeping all of the top 15 for the prior 3 months.
  • In an effort to see just how prolific this area is for Ovintiv, we decided to do a little extra digging. We analyzed almost 2000 wells spud by industry over the last 5 years in BC, and decided to measure their IP12 (12 months). Or in other words, we wanted to see if these wells could maintain these levels of production over the course of a year, or if other companies might catch up based on lower declines. The results were pretty much the same as the monthly results that we’ve been seeing. On an IP12 (month) basis, Ovintiv had 29 of the top 30 natural gas wells, all from Sunrise/Swanlake. ARC Resources had the other well, also coming from Sunrise. Truly a special area for natural gas production.
• Cenovus was able to crack the top 15 natural gas wells in February, with a Falher well from Wapiti that produced at an average rate of 23.33 mmcf/d.

TOP 15 NATURAL GAS WELLS – FEBRUARY VOLUMES