BOE Intel's well licence transfer tool has picked up on 1,944 licences that were transferred over the last 30 days. The gross production from those transfers aggregates to over 36,000 BOE/d based on September production as registered in the public domain (which won't include NGLs or condensate volumes for the most part in AB or SK). BOE Intel users can access all of the different well licence transfer details. Reach out here for a demo. Below we have highlighted a few of the larger [Read more]
Monthly spud activity – Whitecap achieves Montney spud target ahead of time, while Canadian Natural Resources was most active in the Clearwater – BOE Intel
With commodity prices remaining at levels that generate attractive returns for most companies, albeit with significant volatility as always, spuds have continued at a steady pace over the last number of months. This report looks at spuds over the last 30 days in Canada. During that period, there were 432 spuds. The most active companies over that period include: Cenovus - 45 Canadian Natural Resources - 41 Tourmaline - 34 Baytex Energy - 26 Spur Petroleum - 16 Figure 1 [Read more]
Ovintiv does something it hasn’t done in more than a decade – BOE Intel
Ovintiv has a bit of a reputation for blasting a lot of natural gas into the Canadian market at the drop of a hat. It's probably an unfair reputation, but it is the direct result of having some of the best Montney acreage around, and routinely drilling the most prolific natural gas wells in Canada. Our monthly top well reports almost always feature 10-15 of the top 15 natural gas wells from Ovintiv, proving the high quality of its acreage in northeast BC and elsewhere. In September for example, [Read more]
Paramount’s new Montney acreage surrounds mystery buyer’s 32 sections of Crown land bought for $45.3 MM – BOE Intel
Paramount recently released some mineral rights from confidential status, which it press released in its Q3 report. The company cited 20 new or previously confidential sections of Montney rights at Karr/Wapiti. These mineral rights transfers were also picked up by BOE Intel. The location of Paramount's new 20 net sections are particularly interesting as they surround one of the more expensive parcels of Crown land sold in recent years. That land sale saw 32 sections go for $45.3 MM ($1.4 [Read more]
What is Canadian Natural Resources up to in the Alberta Montney west of Grande Prairie? – BOE Intel
Canadian Natural Resources is the largest and one of, if not the most respected name in the Canadian energy sector. As such, it is always interesting to follow what the company is up to, where it is allocating its capital, and any changes in asset mix or activity levels. That's why it was noteworthy over the last 30 days that the company has licensed 31 Montney wells west of Grande Prairie. Prior to these licences, over the last two years CNRL only had 48 other Montney licences in this area, [Read more]
TOP WELL REPORT – September volumes – Hammerhead’s top oil wells are soon to be Crescent Point’s while Ovintiv’s natural gas dominance remains
The September 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 September 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 [Read more]
Crescent Point now controls 9 of top 15 Alberta Montney wells after Hammerhead acquisition – also see deal metrics and asset map as energy M&A accelerates
Mergers & acquisition activity in the Canadian energy sector continues to the most active we have seen in many years. Yesterday, Crescent Point Energy announced its second transformational acquisition in the Alberta Montney within the calendar year. Crescent Point announced that it was acquiring Hammerhead Resources for $2.55 billion. This follows up on the company's acquisition of Montney assets from Spartan Delta Corp. in March of this year for $1.7 billion. On a flowing barrel [Read more]
IPC Canada sells conventional heavy oil assets – 2 buyers are revealed while the third is easily spotted with BOE Intel
IPC Canada released its Q3 report recently, and the company did highlight some recent M&A transactions that have transformed the company's asset base. While the Blackrod oil sands project remains a major focus for IPC, these transactions do provide some insight into the company's other areas of interest. The Q3 report cites the completion of an acquisition in March 2023, in which IPC Canada acquired Cor4 Oil Corp. The mineral rights transfer for that acquisition are pictured below, in [Read more]
Spartan Delta acquiring Deep Basin assets – see who the seller is here – BOE Intel
BOE Intel has picked up on an interesting asset transfer over the last couple of days, with Spartan Delta acquiring assets from Kiwetinohk Energy. Our asset transfer tools have shown a couple different parts to this transaction: There is an AER Licence Transfer application dated Nov 1, 2023 to transfer 20 wells, 8 pipelines and 6 facilities from Kiwetinohk to Spartan Delta. This transfer is currently listed as Pending AER approval. The affected locations for these transfers are shown on [Read more]
3 charts from Advantage Energy’s record quarter – BOE Intel
Advantage Energy reported its Q3 last night, and a few charts from BOE Intel stood out this morning as we were going over the results. The company also revealed its new BC Montney position, which we had previously spotted on BOE Intel a couple months ago. To view the full results, see the link below: Advantage announces third quarter 2023 financial and operating results 1. Corporate production reached a record high Advantage announced record quarterly production of 64,195 BOE/d, up [Read more]
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