The January 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. This is also the first month where Alberta NGL data is reported, and this new data is included in our TOP WELL REPORT. To read more about our methodology, click here. The biggest changes are that we now include pentane volumes in our top liquids section as a condensate equivalent, and our top gas wells are based on [Read more]
Major changes coming to BOE Report’s TOP WELL REPORTS with inclusion into BOE Intel
Loyal BOE Report readers will be interested to know that our monthly TOP WELL REPORTS are undergoing some major changes, starting with the upcoming January public data results. While we have always published top oil/condensate wells and top natural gas wells, we are now able to do more thanks to new upcoming functionality on BOE Intel, as well as the new Alberta NGL data becoming public. Alberta NGL data is published on a different timeline to the traditional well data, so the reports will be a [Read more]
March 6th Alberta Crown land sale totals $52.1 MM – see the most in demand parcels of land here
The Alberta Government brought in a little over $52 MM on its March 6, 2024 Crown land sale. This was a sizeable increase from the most recent Alberta Crown land sale on February 7th which totaled ~$29 MM. Click here for the full results from this land sale. This land sale was highly anticipated, as a massive 21,760 hectares (85 sections) of contiguous Clearwater rights were up for sale as part of 3 different parcels (which we profiled here). The zones were officially listed as "oil sands [Read more]
Paramount Resources asset disposition – 132 wells, 39 pipelines, 21 facilities and more than 26,000 net hectares of mineral rights
While Paramount Resources has not yet reported its Q4 (post publishing note: the quarterly report is now out. Click here for details on Paramount's quarter as well as for further information from the company on the disposition referenced in this article), subscribers to BOE Intel will have noticed some interesting asset transfers over the last week. This is your cue to reach out for a demo if your company is not yet a subscriber of BOE Intel. Paramount has an AER licence transfer application [Read more]
Visualizing MEG’s return of capital strategy in 2 charts
MEG Energy reported its Q4 results late last week. Along with the results, the company announced a CEO succession plan, with the appointment of Darlene Gates, the Corporation’s current Chief Operating Officer, to succeed Mr. Evans as President and Chief Executive Officer. MEG's stated use of free cash flow (FCF) has been directed 50% to net debt, and 50% to share buybacks. The plan as it stands today is for this to transition toward 100% of FCF being returned to shareholders once net debt [Read more]
Massive 21,760 hectares of contiguous Clearwater mineral rights at Marten Hills posted for March 6th Alberta Crown Land Sale
It will have been almost a month since the most recent Alberta Crown Land Sale (which fetched $29 MM) by the time the next land sale goes ahead on March 6th, 2024. While there will no doubt be lots of interesting activity, one particular area caught our attention because of the large and contiguous nature of the mineral rights that have been posted, as well as its reasonable proximity to the impressive Marten Hills Clearwater development. 85 sections (21,760 hectares) of mineral rights have [Read more]
Well licence transfer ALERT – 5,550 well licences representing gross production of over 82,000 BOE/d get transferred to new owners – BOE Intel
Yesterday was a significant day for well licence transfers, as 5,550 well licence transfers were processed. The gross production from these well licences in December was more than 82,000 BOE/d, and there were 20 different transactions. BOE Intel subscribers can click here to directly view all of those well licence transfers. The largest of those were 3,770 well licences transferred from Bonavista to Tourmaline. Tourmaline announced the closing of the acquisition on November 17, 2023 and [Read more]
Chevron transfers 16 well licences including this well which once had a peak monthly rate of over 55 mmcf/d and produced 29 BCF of natural gas in 3.5 years – BOE Intel
Following up on some recent transfer activity in the very far north regions of British Columbia, BOE Intel subscribers will have noticed 16 well licences got transferred on February 12, 2024 from Chevron to Paramount. These well licence transfers follow up on the Chevron/Paramount mineral rights transfer that we had observed at the beginning of January, which appeared to be the precursor transaction to the announcement from Woodside Energy Group that it had entered into a JV with Paramount [Read more]
New Alberta NGL data reveals 78% of NuVista Montney liquids production is high value – BOE Intel
It’s a new age for NGL reporting in Alberta. Petro Ninja and BOE Intel were at the forefront of integrating this new data into our systems, and were some of the first to do so. As data nerds, we are excited that the blind spot in liquids reporting in Alberta has finally been fixed, and that we no longer need to guess about liquids rich plays like the Montney and the Duvernay. Let's use this new data to take a look at NuVista's Montney production. NuVista is a condensate rich producer with [Read more]
Lifting the veil on Alberta NGL production – see the new public data liquids breakdown for Whitecap Montney production – BOE Intel
It's a new age for NGL reporting in Alberta. Petro Ninja and BOE Intel are at the forefront of integrating this new data into our systems, and are some of the first to do so. The blind spot in liquids reporting in Alberta has finally been fixed, and the veil has been lifted on liquids rich plays like the Montney and the Duvernay. For this article, let's look at what we can learn from the public data on Whitecap's Montney production. The production chart below in Figure 1 is the gross [Read more]
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