In January and February 2017, the BOE Report well map counts 268 gas wells spudded. The two most active companies were Tourmaline Oil Corp and Peyto Exploration and Development – each spudding 31 wells.
The deep basin operators were also the only two companies to drill over 100,000 metres (Tourmaline drilled 148,297 and Peyto 131,037).
Unsurprisingly, the Montney was the most drilled formation with 60 wells drilled. The Duvernay (which has been an increasingly active zone) was drilled an impressive 39 times–making it the second most exploited formation.
Recent deal activity in both formations has been rather modest. In the fall of 2016, One Stone Energy Partners acquired 621 barrels from Yoho Resources in the Duvernay formation for $29,000,000 but there has yet to be any major public deals in 2017.
As for the Montney formation, Blackbird Energy at the start of February acquired acreage from Paramount Resources for $3,350,000.
Duvernay wells drilled (Jan 2013 – March 2017)
Montney wells drilled (Jan 2013 – March 2017)
Data provided by BOE Report’s Well Activity Map and M&A Database