October 5, 2021
Each week, XI Technologies scans their industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive XI’s Wednesday Word to the Wise in your inbox, subscribe here.
In March, we presented our annual top ten lists for new “drills”, charting which companies had the most successful production from new wells in 2020. In many ways, 2021 has been a bounce back year for the industry after the challenges of 2020, so looking at data for the first half of the year can be a good way to track the optimism we’ve been seeing in the sector. The following top 10 lists look at data compiled from January through to June of 2021.
More important than the number of wells drilled is the amount produced from those wells. Whitecap Resources and CRNL hold the top two spots on this chart thus far. Arrows indicate how they compare to their ranking in 2020. CNRL made a huge jump in this list since 2020, placing second so far in 2021 after not being in the top ten at all last year.
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 2020. Congratulations to Strathcona Resources and Advantage Energy for topping the current list.
Which operators achieved the best rates from their best oil wells drilled during the same time frame? So far, Suncor and Tourmaline Oil top the field.
This list is dominated by Tourmaline Oil, with five gas wells in the ranking, four of which taking top spot. Strathcona Resources and Ovintiv also have two entries each.
When it comes to initial production rates for oil wells drilled in 2021, Suncor tops the list by a healthy margin, while also claiming the second and seventh best results. Cenovus is the only other producer with multiple wells on the list.
Which operators achieved the greatest gas production (in mmcf) from wells drilled in the WCSB in 2021? At this point, Tourmaline stays in the top position it held throughout 2020, with Ovintiv Energy in second and Peyto Energy in third (as each company was in 2020).
Which operators added the highest cumulative total oil production (in mbbl) from wells drilled so far in 2021? Whitecap Resources claims the top spot after finishing second in 2020. They’re followed by Tamarack Valley Energy and Cenovus Energy.
Congratulations to all our WCSB operators and producers for the improved success thus far in 2021. If you’d like a pdf version of this data, click here to download. Want to learn more about these top-rated operators and their high performing wells? Contact XI Technologies for a demo.