4 Duvernay wells licensed to Chevron Canada came off of Confidential status in March. Of course these wells are soon to be transferred to CNRL as a result of the acquisition announcement last fall, but for now Chevron is the official licensee. While under Confidential status, full production details including (most importantly) pentane volumes are shielded from public view. But now that these wells are no longer confidential, the full results can be seen. You can now use BOE Intel to spot [Read more]
TOP WELL REPORT – Alberta oil/condensate results for February – Surprises abound as the most prolific well comes from the Charlie Lake formation; several lesser known private co’s with big wells
Initial production data is out for February in Alberta. BC and Saskatchewan are yet to report. Alberta has reported oil, condensate, and gas; full Alberta NGL data (including pentane) and marketable gas is due out in a couple weeks. While the February data won't be considered complete until the rest of the Alberta data has been reported, it is nonetheless worthwhile to show the data as it stands today. Pentane volumes in Alberta will not be represented yet for February which will affect liquids [Read more]
Montney Merger Mania: Mapping M&A Molecule Multiples
We have put out a couple of pieces over the last 9 months detailing the consolidation of the Montney: In BC, where the top 5 licensees account for 78% of BC Montney volumes. In AB, where the top 5 licensees account for 66% of AB Montney volumes. But what are Montney molecules worth? The table below shows the larger M&A deals since 2022 where substantial Montney volumes were involved as part of the transactions. The average flowing barrel multiple for these transaction has been [Read more]
Canadian Natural Resources set to begin evaluation of new Duvernay assets – BOE Intel
Canadian Natural Resources acquired Chevron's Alberta assets late last year. As part of the transaction, CNRL acquired Chevron's Duvernay position, which took CNRL from very little production out of the Duvernay, to one of the top producers. The deal has closed, and many of the licences have already been transferred from Chevron to CNRL, with the remainder likely being transferred soon. However, CNRL has yet to spud any wells into the formation since the closing of the transaction, [Read more]
March 19th Alberta Crown Land Sale totals $6.9 MM – Duvernay rights south of Fox Creek headline the sale – BOE Intel
The Alberta Government brought in $6.9 MM on its March 19th Crown land sale. In total, 18,175.49 hectares were sold at an average price of $377.84/ha. Click here to see the full land sale results on BOE Intel. This was a minor land sale by industry standards, with a relatively small total dollar bonus compared to recent history. The most richly priced parcels of land from this sale were 4 sections (1,024 hectares) of deep rights south of Fox Creek. Veren was the buyer of these rights [Read more]
List of top Duvernay producers changing rapidly with M&A – 3 of the top 4 producers achieved scale through recent acquisitions – BOE Intel
The top companies producing out of the Duvernay formation is a quickly evolving list as a result of recent M&A transactions. Whitecap's combination with Veren, Canadian Natural Resources' acquisition of Chevron assets, and Parallax Energy acquiring Vesta Energy have all occurred in the last 6 months. All 3 producers have become major players in the Duvernay as a result. In total, the formation now accounts for ~260,000 boe/d of production, including ~72,000 bbl/d of condensate. The 7 [Read more]
Has the race to consolidate the Alberta Montney begun? – implications in the wake of 2 massive Alberta Montney transactions – BOE Intel
Something massive is going on in the Alberta Montney. First, there was the $3.325 billion transaction whereby Ovintiv will acquire the vast majority of Paramount's Montney production in Alberta. Then this week there was the $15 billion transaction between Whitecap and Veren. On their own, these might be dismissed as one-off transactions, but beneath the surface something larger appears to be going on. The Alberta Montney is being consolidated, following in the path of the BC Montney. [Read more]
Mega Montney Merger – Whitecap to combine with Veren to make Montney/Duvernay powerhouse – How will it compare? – BOE Intel
Massive M&A news early on Monday morning, as Whitecap Resources and Veren announced that the two companies will combine in a $15 billion transaction to create a leading Canadian light oil and condensate producer. To review the M&A slide deck provided by Whitecap and Veren, click here. To listen to the webcast about the transaction, click here. Lots has been written in a short period of time about the combination, so this article will take a slightly different slant. Whitecap [Read more]
TOP WELL REPORT – January volumes – ConocoPhillips outproduces the pack when it comes to condensate; meanwhile capital restraint appears evident on the natural gas side as producers prefer to focus on oil and liquids
Let's take a break from the OPEC+ supply increase and Trump Tariff drama for a moment, shall we? Time for another edition of our TOP WELL REPORT. Most production data is out for January. BC and Saskatchewan data has been reported in full, while Alberta has reported oil, condensate, and gas; full Alberta NGL data (including pentane) and marketable gas is due out in a week or so. While the January data won't be considered complete until the rest of the Alberta data has been reported, it is [Read more]
When does the valuation gap between US Permian and Canadian Montney begin to narrow? Diamondback M&A metrics suggest that companies could buy more than 3 times as much Montney production for the same price – BOE Intel
Big news in the Permian this morning, as the rumours that Diamondback was looking at acquiring Double Eagle turned out to be true. Diamondback press released this morning that it has entered into a definitive purchase agreement to acquire certain subsidiaries of Double Eagle IV Midco, LLC (“Double Eagle”) in exchange for approximately 6.9 million shares of Diamondback common stock and $3 billion of cash, subject to customary adjustments (the “Double Eagle Acquisition”). Diamondback quoted the [Read more]
- « Previous Page
- 1
- 2
- 3
- 4
- 5
- …
- 22
- Next Page »