BOE Report

Dan Rutherford

July licensing activity review – one formation accounted for 26% of all total licensing activity, while Paramount Resources had 50% of the new licences in a different formation – BOE Intel

Canadian licensing activity rebounded in July, up to 641 new well licences during the month. This compares to 513 licences obtained in June, and 674 in May. In comparison with previous Julys, this was an active month. July 2023 saw 532 new licences and July 2022 saw 547 new licences. MOST ACTIVE LICENSEES Company Licences Tourmaline 62 Cenovus 43 ARC Resources 32 Teine [Read more]

TOP WELL REPORT – June oil/condensate production data for Alberta – Veren rules the Montney with Whitecap right behind; Archer Exploration surprises with massive well and while Baytex has top Clearwater, its best well is actually from a different formation

Initial production data is out for June 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 June 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 June which will affect liquids results, [Read more]

Production breakdowns by commodity type – all of the liquids and NGL data by company that you’ve always wanted to know – BOE Intel

The following two charts show the production breakdown by commodity type for all producers in Canada with gross licensed production greater than 30,000 BOE/d. This is not meant to represent the exact breakdown on a corporate basis, as these are gross volumes, for Canada only, won't account for international production or oil sands mining volumes, or any shared working interest or non-operated production, but should still provide a good visual as to the value of a company's production. Click [Read more]

July 10th Alberta Crown Land Sale totals $16.3 MM

The Alberta Government brought in $16.3 MM on its July 10th Crown land sale. In total, 41,280 hectares were sold at an average price of $395/ha. Click here to see the full land sale results on BOE Intel. In total, there were 10 different parcels that sold for more than $1,000/ha., although none of them were particularly large (largest being 512 ha. or 2 sections). The location of those more expensive pieces of land were also spread throughout the province, as shown in Figure 1. Figure [Read more]

Week in review – New well licensing activity and most read articles

Welcome to the BOE Report’s Week in Review! Did you miss something this week? We’ve got you covered. Check out any BOE Intel articles that you missed, and catch up on our most read articles from the week. As a new feature this week, we have shown the well licensing activity on the week from BOE Intel. In total there were 142 licences this week, led by ARC Resources with 32. Click here to open BOE Intel and see more detail on these licences. Total licences last 7 days Licensing [Read more]

TOP WELL REPORT – May volumes – Newly created Duvernay Energy Corp. has a top well; Veren sweeps top 4 oil wells; Surprises on the natural gas side as a 36 mmcf/d well comes from a company NOT named Ovintiv

Most production data is out for May. 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 couple weeks. While the May 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 May which will affect liquids results, [Read more]

June 26th Alberta Crown Land Sale totals $4.3 MM – results on pace to exceed prior years after strong first half; see historical land sale stats

The Alberta Government brought in $4.3 MM on its June 26th Crown land sale. In total, 12,372 hectares were sold at an average price of $347/ha. Click here to see the full land sale results on BOE Intel. This was the smallest land sale of the year on a dollar value basis (Figure 1), although does not take away from a very strong year for Crown land sales in Alberta. While our land sales results articles will often highlight interesting parcels of note, this land sale was rather quiet, both [Read more]

Duvernay in focus – Updates on Chevron and a look at top Duvernay producers by area – BOE Intel

The Duvernay formation in Canada represents over 200 MBOE/d of production, including more than 87 Mbbl/d of oil and condensate (including pentane). A play that saw strong growth up until the end of 2019, it has mostly flat-lined in terms of overall production since then, although has been showing signs of picking up again recently. Figure 1 below shows the production history for all wells currently producing from the Duvernay (note this will not update for new wells drilled since the date of [Read more]

Whitecap Resources – April public data production results show increased contribution from the Montney; gross licensed production in April up 10% from January levels – BOE Intel

With April NGL data from Alberta now fully released (and all other provinces having previously reported), the complete public data April production picture is now available on BOE Intel and Petro Ninja. We were going through some of the production charts on BOE Intel, and happened to notice some interesting production trends from Whitecap Resources. REACH OUT HERE FOR YOUR OWN DEMO OF BOE INTEL AND GETS ACCESS TO THESE CHARTS AND DATA FOR YOURSELF. Whitecap's gross licensed production in [Read more]