Yesterday was a significant day for well licence transfers, as 5,550 well licence transfers were processed. The gross production from these well licences in December was more than 82,000 BOE/d, and there were 20 different transactions.
BOE Intel subscribers can click here to directly view all of those well licence transfers.
The largest of those were 3,770 well licences transferred from Bonavista to Tourmaline. Tourmaline announced the closing of the acquisition on November 17, 2023 and will have had ownership of those wells for a while, but now those specific licence transfers can formally be seen by public data.
Pictured below in Figure 1 is a snapshot of some of the existing licences held by Tourmaline in blue, and transferred licences from Bonavista in purple. BOE Intel’s well licence transfer tool aggregates the gross production from all transfers as of the most recent month of public data. In Tourmaline’s case, we can observe that the gross production from the transferred wells as of December 2023 was almost 69,000 BOE/d, including more than 20,000 bbl/d of liquids. Keep in mind this is gross production, and would not account for any net working interest adjustments, nor would it include any non-operated licences that Bonavista may or may not have had any working interest in. At the time of the acquisition, Tourmaline cited the production from the acquisition of Bonavista to be “over 60,000 BOE/d”.
Some of the other companies that had licences transferred to them yesterday include: Vantage Point Resources, Spartan Delta, Pine Cliff, White Tundra Petroleum, Greenfire, Rubellite Energy, Ranahan Resources, and more. Full transfer details available to BOE Intel subscribers.
Figure 1 – Existing Tourmaline licences (blue) – Licences transferred from Bonavista (purple)
