Concurrent with its Q1 report last week, Birchcliff Energy disclosed that it had accumulated a new land position at Elmworth totalling almost 98,000 acres (~39,600 hectares). Thanks to our A&D tools at BOE Intel, we can now see most of that land position publicly disclosed, as well as a few other sections that Birchcliff has been able to accumulate.
Figure 1 below shows a BOE Intel activity map. In this instance we have shown:
- Mineral rights transfers to Birchliff in yellow (last 1 year)
- AER licence transfers to Birchcliff in red (last 1 year)
- Recent licences in blue (last 3 months)
There are a few things to note here:
- The mineral rights transfers from land brokers to Birchcliff over the last number of days have disclosed about 92,000 acres of the position, so there is still a small piece of the puzzle that we can’t yet see in the public domain. The full picture is in the company’s presentation however.
- Birchcliff has licensed 15 Montney wells over the last 3 months as shown in blue in Figure 1. Note the location of 2 recent Elmworth licences that the company mentioned with its press release last week. Birchcliff indicated that it will drill those locations in late Q2, but will not be completing or bringing those wells on production in 2023.
- Birchcliff has been able to slightly add to/consolidate its land position in Pouce Coupe as well, as we can see some mineral rights transfers over the course of the last year in that area as well.
- Birchcliff did also reveal a small bit of land east of Grande Prairie and north of Ante Creek. While this was just recently transferred into Birchcliff’s name from a land broker, it does appear that this bit of land is from a 2019 land sale and is set to expire this winter unless Birchcliff decides to hold the land. Whether there is anything more to this position that we can’t see or if it is just a one off is impossible to know just from public sources.
This analysis used public data tool BOE Intel. Reach out for a demo here.
Figure 1 – Birchcliff activity map
Figure 2 – List of mineral rights transfers (YELLOW in figure 1 map)
Figure 3 – List of AER licence transfers (affected locations RED in Figure 1 map)