After years of only moderate activity in its BC Montney assets, ConocoPhillips appears poised to enter the next stage of its development. Licensing activity in 2023 shows 94 licences in British Columbia, which marks a new yearly high for the company as it begins to position itself for significant Montney production growth. Of these 94 licences, 68 of them are in the last month alone. Figure 1 - ConocoPhillips BC Montney licences by year A slide from the company's analyst and investor [Read more]
Clearwater activity snapshot – top wells, licensing trends and production profiles
We've used our BOE Intel software to draw a polygon around the core Clearwater fairway (Figure 1) to show some interesting data on activity and production levels in the area. Figure 1 - Clearwater core "defined area" Using the main Clearwater area that we have drawn in, we can get the following report produced by BOE Intel: Figure 2 - Activity report - last 6 months From that report it is easy to spot a few interesting trends in this area over the last 6 months: [Read more]
Mystery buyer of Plato and Forgan Viking assets from Baytex is revealed
A few weeks ago, Baytex announced that it had sold some of its Viking assets, specifically at Plato and Forgan. The article was scant on details, but we did a separate article on the transaction where we went into a little bit more detail on the assets and the main players in the area. At the time, it was unknown exactly who the buyer of the Baytex assets was. Thanks to BOE Intel's well licence transfer tool, we now know who it was. Our licence transfer tool picked up a well licence [Read more]
What’s behind the surge in new Duvernay activity around Kaybob? – BOE Intel
For this analysis, we have used BOE Intel's "define an area" feature to see changes in activity levels in a given area. We've drawn a polygon around the Kaybob area largely defined by where the Duvernay spuds and licences have been over the last few years. The area that we have focused on is shown in the map below in Figure 1. To inquire about a BOE Intel subscription for your company, contact us here. Figure 1 - Kaybob area polygon Using that area we can create a report (Figure [Read more]
TOP WELL REPORT – October volumes – BC Condensate edition – Ovintiv, Crew, CNRL and Yoho show high condensate rates
This edition of the TOP WELL REPORT focuses on the highest condensate production rates for the month of October from the province of British Columbia. As always, we use calendar day production metrics so these are real volumes produced in the month. The list of the top 15 BC condensate wells based on production from the month of October is below. Note that the liquids volumes in the table below only include condensate and not any other NGLs. You can also click on the link below to view the [Read more]
TOP WELL REPORT – October volumes – Saskatchewan edition – Whitecap Resources has 27 year old Midale well that has produced over 1.7 million barrels of oil and still going strong
This edition of the TOP WELL REPORT focuses on the highest oil production rates for the month of October from the province of Saskatchewan. Often looking at the top wells in Western Canada will leave out wells from Saskatchewan, but because they are usually shallower and much lower cost than some of the deeper plays in AB/BC, the return on some of these wells are still excellent. As always, we use calendar day production metrics so these are real volumes produced in the month. The list of [Read more]
What else is Murphy Oil up to in Canada after selling Montney/Duvernay assets to Cygnet Energy? – BOE Intel
A few months ago we noticed through our public data tool BOE Intel that Cygnet Energy was the buyer of Montney and Duvernay assets from Athabasca and Murphy Oil. The mineral rights transfer for only the Murphy part of the disposition is shown in purple in the BOE Intel map below (Figure 1), along with the remaining Crown mineral rights in yellow held by Murphy Oil. Figure 1 The question is what is Murphy up to since this disposition? And does this small disposition represent a larger [Read more]
TOP WELL REPORT – October volumes – Ovintiv knocked off #1 natural gas spot, ARC Resources claims top oil/condensate honours, and a surprising number of Duvernay wells are represented
The October data is out for the highest producing oil and gas wells in Canada. As always, we use calendar day production metrics so these are real volumes produced in the month. The list of the top 15 liquids wells (oil + condensate) and top 15 natural gas wells based on production from the month of October is below. You can also click on the link below to view the wells all on one map, or click on the UWIs individually to see their location and production profiles on Petro Ninja. TOP 15 [Read more]
MEG Energy – Three charts you need to see to believe – BOE Intel
In the last month, MEG Energy released its Q3 report, and followed it up with its 2024 capital guidance and operational plan. For 2024, the company has guided to $550 MM of capital expenditures, which is up $100 MM year over year. This increase seemed to be largely expected, as the company has been flagging extra growth capital as it builds towards future capacity growth of 15,000 bbl/d at Christina Lake. MEG estimates this additional growth capital to be $300 MM over the 2024-2026 [Read more]
Baytex to sell Viking assets at Plato and Forgan – who was the buyer? – BOE Intel
Baytex announced this morning that it is disposing of some of its Viking assets, specifically at Plato and Forgan. The company press released that it would receive approximately $153.8 MM for 4,000 BOE/d of production in the area. The assets are located southeast of the larger Dodsland Viking area, and would've been originally acquired via the Raging River merger in 2018. Note that the Viking assets being sold represent only a portion of what was received in the Raging River transaction. [Read more]
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