Diamondback's Letter to Stockholders is always a fascinating read. The success of the company has been amazing to watch over the years, from a 3,000 BOE/d producer with a $500 MM valuation in 2012 to a company that just produced 850,700 BOE/d in Q1 with an enterprise value of $USD 52 Billion. As the largest pure play Permian producer, what the company says about trends in the area carries significant weight in the industry. There were some real nuggets this quarter in what CEO Travis Stice [Read more]
Montney activity fades – Canada’s premier play faces activity slowdown as producers wait for LNG Canada – BOE Intel
Over the past 15 years, the Montney has solidified its position as Western Canada’s premier oil and gas play. The widespread adoption of horizontal drilling and multi-stage hydraulic fracturing around 2010 transformed it from a modest resource into a powerhouse, now producing over 2,000,000 boe/d. This output includes more than 10 BCF/d of natural gas volumes, complemented by substantial condensate, NGLs, and oil volumes, making the Montney the backbone of Canada’s ambitious LNG plans. Figure [Read more]
April 30th Alberta Crown Land Sale totals $11.3 MM – Buyers snag mineral rights near Bonnyville
The Alberta Government brought in $11.3 MM on its April 30th Crown land sale. In total, 17,472 hectares were sold at an average price of $647.12/ha. Click here to see the full land sale results on BOE Intel. Of particular note in this land sale were mineral rights north east of Edmonton near Bonnyville. This area shown below in Figure 1 accounted for $4,976,542 of bonus spend, or ~44% of the total bonus from the April 30th land sale. We have split up those parcels on the BOE Intel [Read more]
April 16th Alberta Crown Land Sale totals $12.4 MM – Alberta Government has brought in more than $89 MM so far in 2025 as total bonus begins to fall behind banner 2022-2024 years – BOE Intel
The Alberta Government brought in $12.4 MM on its April 16th Crown land sale. In total, 26,299.57 hectares were sold at an average price of $470.03/ha. Click here to see the full land sale results on BOE Intel. To date in 2025, the Alberta Government has raised $89.3 MM through its Crown Land Sales (Figure 1). Figure 1 - 2025 Alberta Crown Land Sales It's a bit of a softer start to the year when compared to the big years of 2022-2024 (Figure 2), although significantly higher [Read more]
Expiries, Crown Reversions, Zone Changes – What’s changed in Birchcliff’s Elmworth mineral rights since disclosing its position 2 years ago? – BOE Intel
Almost 2 years ago, Birchcliff surprised many in industry by announcing a new land position at Elmworth. Testing out some new public data tools at BOE Intel (ask how you can get access here), we took a look at how those mineral rights have changed since that announcement on May 10, 2023. The map below shows a constantly evolving view of the company's mineral rights position in the area, not uncommon for producers in the complex world of mineral rights tenure. Using BOE Intel, you too can stay [Read more]
April 2nd Alberta Crown Land Sale totals $5.1 MM – BOE Intel
The Alberta Government brought in $5.1 MM on its April 2nd Crown land sale. In total, 9,456 hectares were sold at an average price of $543.79/ha. Click here to see the full land sale results on BOE Intel. It was a small and rather uneventful sale. The highest dollar bonus was for two small pieces of land west of Rocky Mountain House that each fetched $441,311. The buyer was Yangarra Resources, with both parcels of land comprising of 1 section (256 hectares) of rights. The mineral rights [Read more]
Confidential no more – 4 Chevron Duvernay wells expose huge potential for CNRL – BOE Intel
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]
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