Well spuds – Montney activity in focus with several Montney spuds in new areas and by new operators – BOE Intel

With fall drilling programs fully underway, we thought it was a good time to review spud data from the last month, to give readers a glimpse into Canadian activity levels. The last 30 days have seen 428 well spuds in Western Canada. Leading the way with the most well spuds were Cenovus (47), ARC Resources (27), and Tourmaline (20).

Figure 1 – Last 30 days well spuds by operator

By far the most targeted formation over the last 30 days was the Montney, with a total of 99 spuds. The McMurray (59), Clearwater (46) and Cardium (32) were also popular.

Figure 2 – Last 30 days well spuds by formation

Looking just at Montney spuds over the last 30 days, we see the most spud activity by ARC Resources (27), Petronas (14), Tourmaline (12) and Ovintiv (11).

Figure 3 – Last 30 days well spuds – Montney only

While users can head straight to BOE Intel and check out all of the spuds for themselves, we thought it would be worthwhile to highlight some spuds that we found interesting.

Notable Montney well spuds from the last 30 days:

• ARC Resources had the most Montney spuds on all recent time frames (30 days, 3 months, 1 year, 2 years).
• At Altares, Pacific Canbriam spud 3 Montney wells. These wells are about 2 townships east of some impressive wells from Canadian Natural Resources that we had highlighted last month in our Top Well Report.
• Storm Development Corp. has spud its first two Montney wells since acquiring assets from ARC Resources.
• Bonterra Energy has spud its first Montney test well on its newly announced Montney acreage North of Grande Prairie. In its corporate presentation, Bonterra indicates this well is not planned to be completed and tested until Q1/Q2 2024.
• Saturn Oil and HWN Energy both spudded Montney wells for the first time in at least a year.
• Logan Energy recently spud its third Montney well since acquiring assets as part of the Crescent Point/Spartan Delta transaction. The public data still shows these licences/spuds under Spartan Delta. This month’s spud was the first on the company’s Pouce Coupe assets, with the prior two spuds at Simonette.
• Whitecap Resources had 3 Montney spuds in the last 30 days and is now up to 7 in the back half of the year. The company has 15 Montney wells planned for H2 2023, after only 2 spuds in the first half of 2023.

Other notable spuds and formations from the last 30 days:

• Repsol had the most Cardium spuds (7).
• The Clearwater was led by Spur Petroleum (18), followed by Tamarack Valley (10) and Headwater (7).
• The Duvernay only had 7 spuds during the last month, with activity spread out between Artis, Vesta, Chevron, Hitic and Teine.
• Baytex and Teine each had the most Viking spuds, with 9 each.

For access to all of the latest licence/spud activity, as well as detailed asset transfer maps and company intel, contact us here for a BOE Intel demo.