Word to the Wise: Drilling top tens for the first half of 2019
August 27, 2019
It’s time for XI Technologies’ bi-annual look into our data to showcase the drilling successes in the Western Canadian Sedimentary Basin.
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here.
Drilling activity in the WCSB has been significantly lower these past few years, but that doesn’t mean no one is drilling. Active drillers are being strategic, doing everything in their power to maximize ROI from their drilling programs, and achieving commendable results. Canadian E&P companies are continually at the forefront of developing new, more efficient, cost-effective, and low-impact techniques and technology for resource exploration and exploitation.
One of the ways Canadian E&Ps achieve results is by utilizing innovative drilling research software and data such as XI Technologies’ OffsetAnalyst and TourXchange. Twice a year, XI digs into the most recent results to compile a series of Top Ten lists that showcase the successes of our drilling industry. We believe this is an important reminder that there is a lot of good work being done in the WCSB, and we want to give credit to our Canadian E&P operators.
In our February 26th article, we pooled the data from all of 2018. This time around, we’ve pulled data to show you how the major players have performed in the first half of 2019, and how that compares to the drilling performance that we saw in 2018. If you’d like to compare this with our analysis of the first half of 2018, you can find that in our blog from last October.
Enjoy! If you’d like to find out how you can put this kind of drilling data to work for you, download a case study, or contact us for a quick demo of OffsetAnalyst.
Top operators for “productive” drilling
More important than the number of wells drilled is how much production you achieve with those wells. Crescent Point and and Teine Energy hold the top two spots on this chart for the year so far. Arrows indicate other companies who were on the list for all of 2018, and whether they moved up or down in the rankings. Torxen Resources is new to the top 10 in 2019 in comparison to 2018.
Top operators for new well production
Achieving a high initial production rate can have a significant impact on the overall ROI for a well or drilling program.
In the graphic below we’ve looked at IP 90 rates for new gas wells and oil wells drilled in 2019. Congratulations to Jupiter Resources and Saguaro Resources for topping the list so far this year.
Which operators achieved the best rates from their best oil wells drilled during the same time frame? So far, Cenovus Energy and Tangle Creek Energy top the field.
Top 10 new producing gas wells
Based on the data, Jupiter Resources drilled the two most successful gas wells in 2019, while Tourmaline Oil Corporation has 7 of the top 10 performing wells in this list.
Wondering where these wells are? Contact us and we’ll show you.
Top 10 new producing oil wells
When it comes to initial production rates for oil wells drilled in the first half of 2019, Cenovus Energy dominate the top ten with 6 out of 10 of the top wells (including the entire top 5). Seven Generations Energy also has multiple entries on the list with the seventh and eighth highest producing new wells.
Wondering where these wells are? Contact us and we’ll show you.
Top 10 operators for new gas production
Which operators achieved the greatest gas production (in mmcf) from wells drilled in the WCSB in the first half of 2019? Tourmaline reclaimed the top spot it had in the first half of 2018, with Encana in second place after finishing 2018 in first.
Top 10 operators for new oil production
Which operators added the highest cumulative total oil production (in mbbl) from wells drilled in the WCSB in 2019? Crescent Point is once again at the top of the list, as it was for the first half of last year. They’re followed by Cenovus Energy, Whitecap Resources, and Teine Energy.
Congratulations to all our WCSB operators and producers. The last few years have been challenging and difficult for all of us, but the Canadian energy industry continues to exhibit a commitment to innovative, responsible production that rivals that of any producing nation. We will prevail!
Want to be able to easily pull stats and other market intelligence like the ones shown here? Contact XI Technologies for an demo or trial of OffsetAnalyst.
