NuVista Energy press released yesterday afternoon a series of updates, including record quarterly production, record return of capital and production that appeared to be ahead of the company’s Q4 and full year 2023 guidance. Read the company’s full press release here.
What also caught our eye was mention of 15.5 gross sections of land in the Wapiti area that the company added in 2023. From the press release:
NuVista is pleased to note that during 2023, we added 15.5 gross sections (98% working interest) of land in our Wapiti area, most of which closed in the fourth quarter. This low risk and well delineated land is located directly adjacent to existing NuVista land and infrastructure, and adds to our inventory of high-quality locations. Additionally, it enhances land configuration efficiency and optimizes pipeline and field facility utilization for growth beyond 100,000 Boe/d. These land acquisitions are expected to lead to immediate reserves additions, and to augment drilling locations planned for the 2024 and 2025 program.
While we can’t be sure these are the specific transfers that the company is referencing, BOE Intel has picked up a number of different mineral rights transfers over the course of 2023 going to NuVista. The individual transfers that are selected in Figure 1 are all in the Wapiti area, and are shown in purple in Figure 2 relative to the Crown mineral rights held by NuVista (orange) in the area. The selected transfers total close to 16 net sections, and come from two midcap producers that have other assets in the area. Those producers are blocked in the screenshot below but are available to BOE Intel subscribers, who can click here to go straight to our mineral rights transfers page.
Figure 1 – “From” column blocked out but available to BOE Intel subscribers
Figure 2 – NuVista Crown mineral rights (orange) and selected mineral rights transfers (purple)
Note: All NuVista Crown mineral rights shown, not necessarily just Montney