BOE Report

Dan Rutherford

Massive Montney mineral rights transfer formally goes through – new land previously held by land broker is publicly revealed – BOE Intel

Paramount Resources announced last week that it had acquired 167 sections of wholly-owned Montney rights in the Sinclair area of Alberta for ~$51 MM. These land acquisitions were done over a multi-year period. The public data mineral rights transfers have gone through, showing in detail the transfer of mineral rights from various land brokers to Paramount. In total, BOE Intel shows 177 sections of mineral rights (encompassing all zones, not just Montney) that were recently transferred to [Read more]

Peyto CEO highlights strategic importance of acquired Edson Gas Plant in monthly report

Peyto Exploration & Development's President & CEO Jean-Paul Lachance has continued a long standing tradition of monthly Peyto CEO reports highlighting interesting and important parts of Peyto's business. In this month's report, Jean-Paul Lachance highlights one of the important aspects of its Repsol acquisition, in addition to the drilling upside, was the vast amount of infrastructure that was acquired, including the Edson Gas Plant. Since closing the acquisition, he indicates that [Read more]

Canadian rig count summary – active rig count falls to 194 driven by drop in natural gas drilling; August Alberta natural gas price averages C$0.61/GJ

Canada’s active rig count came in at 194 this morning, a 9 rig decrease compared to last Friday. Alberta rig activity decreased to 137 active rigs from 149 last week. Saskatchewan’s rig count increased from 30 to 33, while BC’s active rig count remained unchanged at 20. The rig count decrease was driven predominantly by natural gas targeted drilling as the number of gas rigs decreased from 67 to 60 over the last week. The number of oil rigs also fell this week, from 128 to 127 active [Read more]

TOP WELL REPORT – July oil/condensate production data for Alberta – Did Veren hang on to top spot or is it Whitecap’s turn?; ARC Resources has 5 top wells and Baytex’s Clearwater continues to be best – BOE Intel

Initial production data is out for July in Alberta. BC and Saskatchewan have 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 July 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 July which will affect liquids results, [Read more]

August 21st Alberta Crown Land Sale totals $40.4 MM – 2 parcels near Sundre go for a combined $25.7 MM – BOE Intel

The Alberta Government brought in $40.4 MM on its August 21st Crown land sale. In total, 55,435.56 hectares were sold at an average price of $729.21/ha. This was the largest land sale dollar bonus since the March 20, 2024 land sale, and continues a strong 2024 for Alberta Crown land sales. Click here to see the full land sale results on BOE Intel. A large chunk of that total bonus figure came from 2 parcels of land near Sundre, AB. Those two parcels (shown in orange below) [Read more]

BC Montney M&A – What’s next? – BOE Intel

Exciting news in the Canadian energy sector this week, as it was announced that Tourmaline will buy Crew Energy for a total implied value of ~$1.3 billion. Now is as good a time as any to examine the BC Montney from a production and ownership perspective after this transaction. To do so, we have created a shape in BOE Intel that generally encapsulates the majority (but not all) of the Montney activity in BC. You can see this polygon in Figure 1. Figure 1 Next we broke down the [Read more]

Tourmaline to acquire Crew Energy – see asset map, comparable transactions, deal metrics, and more – BOE Intel

Tourmaline announced yesterday that it will acquire Crew Energy for total value of approximately $1.3 billion. Stated volumes in the press release were 29,000-30,000 BOE/d. The company updated its corporate presentation with a few new slides, highlighting ~341 net sections of Montney land will be acquired as well as 700 Tier 1 locations. Tourmaline cited a few reasons for the acquisition. In the press release, Tourmaline said it "believes this is an opportune time for consolidating natural [Read more]

August 6th Saskatchewan Crown Land Sale totals $7.2 MM – Saturn Oil & Gas is top buyer at sale

The Saskatchewan Government brought in $7.2 MM on its August 6th Crown land sale. In total, 14,374 hectares were sold at an average price of $501.51/ha. Click here to see the full land sale results on BOE Intel. The two most expensive parcels of land were sold to Saturn Oil & Gas, while the company also spent the most money in total at this land sale, not including land brokers. Saturn spent $1,696,511.86  for 1184.427 hectares ($1,432/ha.). All of Saturn's new land from this land sale [Read more]

August 7th Alberta Crown Land Sale totals $5.55 MM – 3 parcels west of Drayton Valley represent 72% of the total area sold

The Alberta Government brought in $5.55 MM on its August 7th Crown land sale. In total, 18,176 hectares were sold at an average price of $305/ha. Click here to see the full land sale results on BOE Intel. This was a small land sale with only 18,176 hectares of mineral rights that transacted. Three parcels west of Drayton Valley (Figure 1) represented 72% of the total area sold in this land sale, and 60% of the total $ bonus. These 3 parcels of land went for an average price of $253/ha. [Read more]