The April data is now fully complete for all provinces so we can report on the highest producing oil and gas wells in Canada for the month**. As always, we use calendar day production metrics so these are real volumes produced in the month. Given the timing lags between when the full NGL data gets reported and when the initial data comes in for the following month, we will also soon be reporting on some interesting wells from the initial May data in a separate article. To read more about our [Read more]
June 12th Alberta Crown Land Sale totals $17.1 MM – interesting parcels sold include: land offsetting a recent multi-lateral Charlie Lake well; 15,616 hectares of land immediately adjacent to Spur Petroleum Clearwater acreage; and Eastern Alberta Mannville lands
The Alberta Government brought in $17.1 MM on its June 12th Crown land sale. In total, 36,608 hectares were sold at an average price of $467/ha. There were 5 parcels of land that fetched over $1 MM, coming from 3 distinct areas. To see all of the land results, head over to BOE Intel. Nearby the Cecil field north of Grande Prairie and west of Peace River, there were 2 parcels (shown in purple in Figure 1) that went for a total bonus of $4,598,887. Both parcels went to Millennium Land at the [Read more]
Advantage Energy acquires $450 MM worth of Charlie Lake / Montney assets from private producer – see deal metrics and seller identity here
Advantage Energy announced on June 10th that it has acquired $450 MM of Charlie Lake / Montney assets from a private producer, including 14,100 BOE/d (53% oil/liquids) of production. While the press release did not mention who the seller was, and no asset transfers can be seen as of yet, the maps from the company's acquisition slide deck line up with those of Longshore Resources (Longshore is also referenced in the fine print on a few slides). Not involved in this transaction are Longshore's [Read more]
Barrel Oil Corp is the buyer of Surge Energy’s Shaunavon assets
Surge Energy press released last week that it had (among other things) disposed of some non-core assets at Shaunavon and at Westerose. The bulk of the disposition appears to be at Shaunavon, where Barrel Oil Corp has announced to the BOE Report that it is the buyer. BOE Intel users will be able to find the identity of the other buyer for the Westerose assets using our AER Transfer tool. Using public data tool Petro Ninja, we can see the Shaunavon assets currently held by Surge. The map below [Read more]
May 29th Alberta Crown Land Sale fetches $7.9 MM – fascinating land sale activity in northwest Alberta continues
The Alberta Government brought in $7.9 million on its May 29, 2024 Crown land sale. In total, 15,024 hectares of land were sold at an average of $523/ha. To see the full results of this land sale and other pieces of market intelligence, head over to BOE Intel. Unlike some previous recent land sales, this one didn't have any particular parcels of note that represented a large portion of the total bonus paid. None of the parcels of land fetched more than $1 MM or went for more than $1 [Read more]
TOP WELL REPORT – April sneak peek – Veren continues to rule the Montney with top oil/condensate rates while Whitecap has its best showing in many months
Production data is out for April on a limited basis. Alberta producers have reported oil, gas equivalent, and condensate volumes (but not pentane, NGLs or marketable gas), while Saskatchewan and BC are yet to report. While our complete top well report for April won't be out for almost another month, it is nonetheless worthwhile to show some initial data for those who are interested. As this is a sneak peek version, we are limited to what has been reported. Pentane volumes will not be [Read more]
TOP WELL REPORT – March volumes – The surprising company that had a 3,346 BOE/d Duvernay well including 1,397 bbl/d of condensate
The March data is now fully complete for all provinces so we can report on the highest producing oil and gas wells in Canada for the month**. As always, we use calendar day production metrics so these are real volumes produced in the month. Given the timing lags between when the full NGL data gets reported and when the initial data comes in for the following month, we will also be reporting on some interesting wells from the initial April data in a separate article. To read more about our [Read more]
May 15th Alberta Crown Land sale totals $13.2 MM – most expensive parcel of land sets new record on a ‘per area’ basis – BOE Intel
The Alberta Government brought in $13.2 million on its May 15, 2024 Crown land sale. The most expensive parcel of land was a single section of mineral rights (256 hectares) that went for $5,953,733 ($23,257/ha.). The likely target is the Montney, and the buyer of record was Lexterra Land (a land broker). This is the most expensive parcel of land from an Alberta Crown land sale on a 'per area' basis over at least the last 3 years. It also represented 45% of the total value from the May 15th [Read more]
From 0 to 20,500 bbl/d in 3 years – The Baytex Peavine area Clearwater story – BOE Intel
It's hard to believe that three years ago the Peavine area Clearwater development did not yet exist. Yes, the first well from Baytex in the area had been spud (officially January 2021), but there was nothing in the early results suggesting just how prolific this area was about to become. The first couple of wells from Baytex came on production in the first half of 2021. The results were good, but still nothing to be overly excited about. The first well on production in March of that year had [Read more]
Saturn to acquire assets from Crescent Point – view deal metrics and asset maps – BOE Intel
After the market closed yesterday, Saturn Oil & Gas and Crescent Point announced a transaction whereby Saturn will acquire certain Saskatchewan assets from Crescent Point, including Flat Lake and Battrum. Crescent Point announced the deal to include 13,500 BOE/d (95% liquids) for a disposition amount of $600 MM. The production quoted was the expected average over the next 12 months. Saturn announced the transaction value as $525 MM from a "net" purchase price perspective including [Read more]
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