Buffalo Mission Energy Corp has filed a couple applications with the AER to acquire 58 wells, 13 facilities and 5 pipelines from West Lake Energy Corp. These licence transfers are currently listed as Pending AER approval.
We spotted this acquisition using BOE Intel, and with a single click we were able to plot the affected locations on a map. If you are interested in having access to this tool, reach out for a BOE Intel demo for you and your company.
The assets being acquired by Buffalo Mission surround Frog Lake near the AB/Sask border, and are mostly heavy oil assets. Interestingly Buffalo Mission does not currently show as the owner for any mineral rights, so this appears to be a company in its very early days. The company’s website also doesn’t give us much to go on as it is listed as ‘Coming Soon’ and provides little detail at this point. However, Buffalo Mission does have 4 recent well licences, and has recently spud two wells in the area. You can click through to see those wells.
If we filter some West Lake wells in the area for any that are ‘active’, we get a selection of 55 wells which is a fairly close number to the 58 that are in the licence transfer applications, although we don’t know the exact wells to be transferred yet. We can get a sense for what the gross licenced production of those wells would be, just to give us an approximation of what production might be involved in the acquisition. The historical production from those 55 wells is in Figure 1 below. Again, this may or may not be representative of the size of the production being acquired, but would be a best guess at this point. Based on this analysis, the gross licensed production from those wells is ~400 b/d of oil, plus ~850 mcf/d of natural gas.
Figure 1. Aggregate production from 55 active wells licensed to West Lake Energy surrounding Frog Lake
West Lake did spud 2 multi-lateral heavy oil wells late in 2022, which you can see in Figure 2 below. Below in Figure 3 you can also see the initial combined production rates from those wells. These two multi-laterals appear to be behind the recent jump in production in the 55 area wells plotted above. Click the map to go straight into Petro Ninja to view more detail on these two wells.
Figure 2. Two multi-lateral wells licensed to West Lake Energy
Figure 3 – Aggregate production from Figure 2 wells