Weekly Update March 11 2019
Interesting News
- NorthRiver Midstream Energy 5 gas plant license for existing gas plants in BC
- Enerchem International Inc. new Injection/disposal facility 16-31-073-05W5
- 87 new well license on BC
- Shell approved license for 6 well pad 06-24-064-22W5
- Surge approved for a 3 well pad 05-06-091-12W5
- Tourmaline approved 4 well pad 07-09-049-19W5
- Keyera Energy approved for a 3 well LPG Pad 04-14-055-22W4
- Encana Corporation started the spud of 14-13-072-09W6 8 well pad
- NuVista Energy Ltd. completed spud of 3 well pad 07-14-068-07W6
- Cenovus Energy Inc. to finish spud 11 well pad 11-06-076-05W4
- Chevron finish spud of 6 well pad 13-17-062-20W5
- Nuvista complete the spud of 8 well pad 01-19-070-08W6
First Facility License since Oct 1 2018 (or greater)
- Advantage Oil & Gas Ltd._Licence Amendment_Gas processing plant _AB_05-02-076-12W6
- ENERCHEM INTERNATIONAL INC._New Licence_Injection/disposal facility -_AB_16-31-073-05W5
First Well License since Oct 1 2018 (or greater)
- Keyera Energy Limited Partnership_AB_ST. ALBERT_04-14-055-22W4
- Dejour Energy Inc._BC_BC_NTS: B -089-E/094-H-01
First Wells Drilled Since Oct 1 2017 (or greater)
- CONFLUX ENERGY_AB_WAINWRIGHT_12-03-040-04W4
- AMHERST ENERGY INC._AB_WAINWRIGHT_13-05-052-03W4
- PetroChina Canada_AB_BONNYVILLE_10-14-090-14W4
Rigs First Time Drilling Since Apr 1 2018
- None
Other News
- Yangarra Resources – decommissioning liabilities includes 26 inactive wells, all of which are scheduled to be abandoned before the end of 2019.
- Freehold Royalties currently forecasting 20 net wells will be drilled on our lands in 2019, representing a 6% decrease over 2018.
- Paramount Resources capital budget for 2019 is $350 million and production between 80,000 Boe/d and 81,000 Boe/d focused on growing Montney production at Wapiti and Karr, increasing liquids sales and per-unit netbacks. Budgeted $32 million for abandonment and reclamation activities in 2019, including those at Hawkeye and Zama.
- Crescent Point continues to advance its key focus areas. In Viewfield, the Company’s waterflood program has allowed for a base decline rate of approximately 25 percent in 2019. converted 79 producing wells to water injection wells in 2018 for approximately $50 million. The Company plans to convert approximately 145 wells in 2019 for approximately $40 million, highlighting its focus on cost reductions while advancing decline mitigation techniques.
- Obsidian Energy implemented a manufacturing drilling model in the Cardium in the second half of 2018 that delivered significant cost efficiencies
- Canadian Natural planned 38 day turnaround at the Scotford Upgrader is targeted for April and May 2019, at which time the Upgrader will run at restricted net rates of approximately 162,000 bbl/d of SCO. At AOSP, additional planned pit stop activities are targeted for the fall of 2019.
- Peyto drilled its first Montney horizontal well in the Wildhay area in the fourth quarter, following up on the land purchase in Q3 2018. limited drilling activity to 3 Cardium focused rigs running in 2019.
- NuVista Energy 7 wells to be drilled in Bilbo in 2019.
- Kelt 2018, the Company spent $168.7 million on drill and complete operations, $118.5 million on equipment, facilities and pipelines (includes $10.0 million of inventory) and $5.5 million on land and seismic.
- Pengrowth reached agreement with Ironclad Energy Partners LLC (“Ironclad”), a wholly owned subsidiary of Stonepeak Infrastructure Partners, and signed a Letter of Intent (“LOI“) regarding the engineering, design, construction, commissioning, asset management, energy management and ownership of a new cogeneration facility at Lindbergh.
- Baytex Energy 80% of our capital program is directed to our high operating netback light oil assets in the Eagle Ford and Viking.
- Cardinal Energy realized an all-in cost reduction for these three wells of more than 13%, when compared to our costs for previous Glauc channel wells drilled in this area.
