List of top Duvernay producers changing rapidly with M&A – 3 of the top 4 producers achieved scale through recent acquisitions – BOE Intel

The top companies producing out of the Duvernay formation is a quickly evolving list as a result of recent M&A transactions. Whitecap’s combination with Veren, Canadian Natural Resources’ acquisition of Chevron assets, and Parallax Energy acquiring Vesta Energy have all occurred in the last 6 months. All 3 producers have become major players in the Duvernay as a result.

In total, the formation now accounts for ~260,000 boe/d of production, including ~72,000 bbl/d of condensate. The 7 producers with Duvernay production greater than 10,000 boe/d are shown below in Figure 1.

Keep in mind the data is shown on a gross licensed basis, meaning that it won’t account for any working interest sharing agreements. For example, KUFPEC had a 30% working interest in Chevron’s Duvernay production at last check, meaning that CNRL’s net production would be 70% of the gross total assuming that agreement is still in place.

Check out BOE Intel to quickly create reports on production and activity by formation, area, field, or company.

Figure 1 – Duvernay Formation Gross Licensed Production – December 2024 volumes* (tilt phone sideways to view on mobile)

*Gross licensed volumes assume 100% working interest to all licensed production and do not reflect any working interest in wells licensed to another company.  
**Well licences not yet transferred and deal is not yet closed. These are best estimates only for illustrative purposes of what is expected to be transferred assuming transaction close.
***Not all well licences have been transferred yet in public record. Remaining Chevron Duvernay wells have been combined with CNRL production to form combined figure.