Inflation in the oilpatch appears to be pretty sticky these days. A quick glance at median operating costs and transportation costs across a broad spectrum of producers in Canada shows that fact very well. Q2 results are basically all in by now, and we are not seeing any reprieve on these two metrics as of yet, although Q2 was a challenging quarter on production for many given wildfire impacts in May. The following charts all come from BOE Intel. Reach out for a demo here. Figure 1 - [Read more]
Newest public Montney company adds mineral rights near Simonette – BOE Intel
Logan Energy is the newest public Montney company after its spinout from Spartan Delta, bringing with it Rick McHardy as President & CEO and some team members from Spartan. The company just reported its first quarter as a public company and already looks to be hard at work building out its resource base. Not mentioned in its Q2 report is a 12 section mineral rights transfer from Kiwetinohk Energy to Logan, captured by BOE Intel on August 4th and pictured below. Figure 1 shows Logan's [Read more]
This private company’s acquisitions total over 8,000 BOE/d so far in 2023 – see the newest A&D tool from BOE Intel
For much of the last year, BOE Intel has been able to highlight A&D transactions that otherwise might not get press released, or sometimes would only get mentioned later on. BOE Intel's AER licence transfer mapping tool and mineral rights transfer tool have allowed users to get the jump on transactions happening in and around core areas of interest. One example of this was spotting back to back acquisitions by HWN Energy at the beginning of the year. The links to those articles are [Read more]
TOP WELL REPORT – June volumes – Ovintiv produces 60,000 BOE/d from 15 wells, while Crescent Point’s Montney wells produce highest oil rates
The June 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 June 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]
Strathcona Resources to go public with acquisition of Pipestone Energy – see deal metrics and recent spuds – BOE Intel
Strathcona Resources announced yesterday that it has reached an agreement with Pipestone Energy to acquire the company in an all-share deal which would make it the fifth largest liquids producer in Canada. After closing, Strathcona will become a public company with pro forma current production of ~185,000 boe/d. The company will be ~70% weighted to oil/condensate, and will have a 78% liquids weighting overall. See the Pro Forma corporate presentation here. Over the last 3 and a half years, [Read more]
BOE Intel has full Q2 production data for Alberta & Saskatchewan producers even before the companies report – see Q2 results inside
With Q2 earnings season under way, many investors and industry peers will be closely watching quarterly reports to see how producers managed through a challenging quarter. Downtime, turnarounds or wildfire impacts will likely be mentioned in almost all of the quarterly reports that are upcoming. Using public data tool BOE Intel, we have a headstart on these numbers before the companies report thanks to the excellent amount of public data that is available. BOE Intel has gross licensed [Read more]
BTG Energy to acquire infrastructure assets from private producer – BOE Intel
BTG Energy Corporation has filed an application with the AER to transfer the licences for 297 pipelines, 146 facilities and 4 wells from Certus Oil & Gas Inc. to BTG. That licence transfer is currently listed as "Pending" AER Approval. The affected locations for the transfer are mapped below via BOE Intel. BTG is a freshly capitalized private equity fund that raised $74.2 MM in December, 2022 with the mandate to "make investments in the Canadian energy infrastructure sector." The [Read more]
Mid-cap Montney update – Birchcliff, Paramount, Advantage, NuVista, and Hammerhead – BOE Intel
Today, BOE Intel takes a look at some midcap Montney companies using our compare tools and activity maps. We chose a few Montney companies in the 40-100 mboe/d range. Figures 1-3 takes a look at recent production trends for Birchcliff Energy, Paramount Resources, Advantage Energy, NuVista Energy and Hammerhead Energy. We have annotated some of the charts with commentary about what we see. We are only days away from getting June gross licensed production figures from BOE Intel for these [Read more]
Clearwater ALERT – Headwater Exploration adds more land in mineral rights transfer from Woodcote Oil & Gas – BOE Intel
BOE Intel's asset transfer tool has picked up on a mineral rights transfer in one of the more interesting plays in Western Canada, with Headwater Exploration acquiring Clearwater acreage from Woodcote Oil & Gas Inc. This mineral rights transfer went through on June 30th. The acreage is near West Nipisi and connects two pieces of land for Headwater. The West Nipisi expansion is relatively new for Headwater, first showing up in its April presentation. That land was announced as 31.5 net [Read more]
Whitecap Resources – see actual April/May production, licence/spud activity and maybe a dividend boost coming soon? – BOE Intel
Q2 reporting season is officially underway. With that in mind, we thought we would use public data tool BOE Intel to offer a preview of what we might expect from Whitecap Resources from a reporting perspective and for a glimpse into what the back half of the year might hold. Over the last 3 months, Whitecap licensed 107 wells. Of those, 30 were for the Viking, 25 for the Montney, and 19 for the [Read more]
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