The Alberta Government brought in $16.1 million on its May 1, 2024 Crown land sale. The largest bonus was $4.8 MM for 12.25 sections (3,136 hectares) of mineral rights south of Rocky Mountain House. The price per area metrics for that parcel were $393,392/section or $1,537/ha. Covee Energy Corporation was the buyer of this parcel which came with a variety of potential target zones. That parcel is pictured below in Figure 1. Figure 1 Industry wide, a little over $9 MM was spent in [Read more]
Bloomberg article suggests Ontario Teachers’ Pension Plan is in talks to sell its stake in Aspenleaf Energy Ltd.
According to an article from Bloomberg, Ontario Teachers' Pension Plan is in talks to sell its stake in Aspenleaf Energy Ltd. The link to the original Bloomberg article is here. It was also picked up by Yahoo Finance without the paywall here. Using BOE Intel, we can provide a little context on production for Aspenleaf Energy. Recent monthly production from the public domain puts Aspenleaf ~24 MBOE/d on a gross licensed production basis (aggregation of all wells licensed to the company at an [Read more]
TOP WELL REPORT – March sneak peek – Crescent Point at the top in the Montney, Tamarack Valley with 2 prolific Charlie Lake wells, and Baytex has 5 x 1,000 bbl/d Clearwater wells
Production data is out for March on a limited basis. Alberta producers have reported oil, gas equivalent, and condensate volumes (but not pentane, NGLs or marketable gas), while Saskatchewan and BC are yet to report. While our complete top well report for March won't be out for almost another month, it is nonetheless worthwhile to show some initial data for those who are interested. As this is a sneak peek version, we are limited to what has been reported. Pentane volumes will not be represented [Read more]
TOP WELL REPORT – February volumes – ConocoPhillips and Ovintiv top highest producing wells lists
The February data is now fully complete for all provinces so we can report on the highest producing oil and gas wells in Canada for the month**. As always, we use calendar day production metrics so these are real volumes produced in the month. Given the timing lags between when the full NGL data gets reported and when the initial data comes in for the following month, we will also be reporting on some interesting wells from the initial March data in a separate article. To read more about our [Read more]
April 17th Alberta Crown Land Sale fetches $13.5 MM – 2 Montney sections go for more than $22,000/ha. – BOE Intel
The Alberta Government brought in more than $13.5 million on its April 17, 2024 Crown land sale. While this is down from some larger land sale results over the last few months, this is only because of the very few number of postings for this land sale. The $/area metrics were very strong, driven mainly by 2 parcels in particular. Both parcels were for a single section (256 hectares each), with one going for $5.89 MM ($23,011/ha.), and the other going for $5.73 MM ($22,400/ha.). Both parcels [Read more]
This private company has tripled oil production over the last two years by producing wells from a formation that almost no one else is targeting – BOE Intel
As we were pouring over the public data from February, one company caught our eye. Islander Oil & Gas seems to have been having some success with a play that is off the radar for most. The company has been drilling predominantly Pekisko oil wells, and has been producing excellent results in the Seal field. The wells have been noteworthy because of the high oil rates, but also because we just don't see too many Pekisko oil wells drilled these days. In fact, there have only been 30 Pekisko [Read more]
TOP WELL REPORT – Charlie Lake formation – Tourmaline and Tamarack Valley at the top in February while Archer Exploration’s top wells are not part of Bonterra deal
While we patiently wait for Alberta's NGL data for February to put out our overall list of top wells, we figured it would be a good time to highlight an oily play from Alberta where the data is already out for February. This edition of the TOP WELL REPORT focuses on the Charlie Lake formation, and looks at the top oil rates from the month. There are likely some incremental condensates barrels yet to report, but would be unlikely to alter these results much. As always, we use calendar day [Read more]
April 3rd Alberta Crown Land Sale fetches $36.6 MM driven by continued strong interest in the Montney and the Mannville – BOE Intel
The Alberta Government brought in more than $36.6 million on its April 3, 2024 Crown land sale. This is another strong land sale, which follows up on two strong land sales from March which fetched $59 MM and $52.1 MM. To see all of the results from this land sale, click here and go to the "Land Results" tab. The most valuable parcels of land, on a total bonus basis and on a bonus per area basis, were for the Montney southeast of Grande Prairie. There were three individual sections that [Read more]
Finding value in the NGL stream – these 10 producers have the highest condensate weighting in their natural gas liquids – BOE Intel
When evaluating NGL production, it's incredibly important to know the breakdown of those liquids. Traditionally lower value liquids like ethane, propane, butane (C2/C3/C4) simply don't have the same impact for a company as condensate and pentane (C5+) production. To show how big a difference it can make, we've analyzed all companies tracked by BOE Intel which report realized pricing figures. The median realized price for condensate production in Q4/2023 was $98.20/bbl (Figure 1) whereas the [Read more]
Spur Petroleum to test far northern reaches of its Clearwater acreage – also see the company’s best wells from February
Spur Petroleum recently spud its farthest north Clearwater well yet. On March 13, 2024 the company officially spud a well targeting the Spirit River FM (Clearwater analogue) at the furthest reaches of its acreage that can be seen publicly. As one of the initial pioneers, largest land owners and largest producers in the Clearwater play, this spud will no doubt be watched closely by industry as Spur continues to test the boundaries of the Clearwater. A recent presentation from the company [Read more]
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