CNRL updated 2022 base and strategic growth capital program is now targeted to be approximately $4.9 billion and corporate production guidance range is increasing to 1,295 MBOE/d to 1,335 MBOE/d.
Kirby – The Company is progressing with engineering and design of a commercial scale solvent SAGD pad development at Kirby North, which is targeted to commence solvent injection in early 2024.
Wembley – The Company brought 9 liquids-rich Montney wells on production in late Q1/22 and Q2/22 at a top tier capital efficiency of approximately $3,400/BOE/d. July monthly production from these wells is exceeding budgeted rates, at approximately 8,200 bbl/d of liquids and 27 MMcf/d of natural gas, maximizing existing facility capacity.
Karr – the Company brought 4 gross (3.4 net) Dunvegan light crude oil wells on production in March 2022 at a strong capital efficiency of approximately $5,200/BOE/d. July monthly production from these wells is exceeding budgeted rates, at approximately 2,900 bbl/d of liquids and 3 MMcf/d of natural gas.
Oil & Gas Permits Download
CNRL Wells Drilled Since 2020
CNRL Facility Permits
Townsend – the Company brought a 6 well pad on production in Q2/22 at a strong capital efficiency of approximately $4,500/BOE/d with total July monthly production of approximately 54 MMcf/d.
Edson – the Company brought 3 wells on production late in Q1/22 at top tier capital efficiency of approximately $2,800/BOE/d, with total July monthly production of approximately 32 MMcf/d and 560 bbl/d of liquids.
Pelican Lake, the Company targets to drill 8 net crude oil wells, all incremental from budgeted levels.
Clearwater – as part of this Strategic Growth Capital, the Company will be investing additional capital to delineate its large, undeveloped Clearwater land base of approximately 940,000 net acres, one of the largest land bases of Clearwater rights.
Pike – the Company is targeting to progress engineering and long leads for 2 thermal in situ pad additions at Pike, targeting to add approximately 28,000 bbl/d of capacity by 2026. Capital efficiencies average approximately $8,000/BOE/d on Steam Assisted Gravity Drainage (“SAGD”) pads and approximately $10,000/BOE/d on Cyclic Steam Stimulation (“CSS”) pads.
Horizon – the Company targets to add additional shovels and tailings pipe at Horizon supporting the reliability project, for total incremental Strategic Growth Capital of approximately $70 million.