BOE Report

Dan Rutherford

Cenovus to sell Clearwater exploration land to Spur Petroleum

BOE Report readers with a keen eye on our AER Licence Transfers page will note on November 2nd that Cenovus filed an application with the AER to transfer 99 wells over to Spur Petroleum. These are predominantly vertical stratigraphic wells with little to no current production, with the intention here that Spur Petroleum is acquiring the mineral rights in the affected sections. We have gone ahead and mapped the affected locations on Petro Ninja to get a sense of where these lands are in relation [Read more]

Drilling Productivity Trends in the U.S.

  The E.I.A. published its monthly drilling productivity report on October 17. The link to the full report is here, with all of the charts below from the report. The charts below show the estimated data for November 2022. I have pulled out some of the charts from the report that are worth commenting on: New well production per rig is down YoY for both oil and natural gas, suggesting that each incremental new rig is not producing oil or gas as efficiently as it was at this point [Read more]

TOP WELL REPORT – Who drilled August’s top producing wells?

We are introducing a new monthly feature here to our BOE Report readers that will highlight some of the top wells drilled in the Western Canadian Sedimentary Basin (WCSB), based on recent production that we can see in the public domain. Our data is supplied by Petro Ninja. Fresh off of confidential status, we can now see production volumes for August 2022 across the WCSB. Below is a table of the top 15 liquids wells (oil + condensate), as well as the top 15 natural gas wells. Note that we use [Read more]

Coelacanth Energy Inc. – A sneak peek

Vermilion Energy Inc. announced overnight that its now owns 16.3% of Coelacanth Energy Inc., or about $49.2 MM worth based on today’s trading prices for Coelacanth (CEI.v). Coelacanth is the spinout from Leucrotta Exploration that was acquired by Vermilion back in the spring, and has a large contiguous block of (presumably) Montney exploration land north of the Peace River in NE BC.  Given the moratorium on new well licenses in NE BC for most of the past year and change, we can’t see any well [Read more]