October 18, 2022
Each week, XI Technologies scans their 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 Word to the Wise in your inbox, subscribe here.
In September, XI published top tens lists examining data from new wells to provide a snapshot of the success of recent drilling efforts. This week, we’ll expand this snapshot to look at the production successes of all assets active in Western Canada, not just those recently brought online. This will help tell more of the story of our industry so far in 2022 and who were the companies leading the way.
The data on this list is compiled from our AssetBook software, the ultimate industry intelligence source for Canadian E&P companies and anyone who does business with them. Click on any of the below graphics for a zoomed-in look. The data reflects production levels as of August 2022.
To determine the top oil producers, we considered two perspectives: the OWNERS of producing oil assets, versus the OPERATORS of those assets. When it comes to top producers, we can see that most owners are operating their own assets.
Note: Ownership production is a straight working interest production by owner. Operator production is operated production with working interest production applied.
By both measures, Cenovus Energy, Canadian Natural Resources, and Suncor lead the pack, with Cenovus operating oil assets that produce 608.2K bbl/d of oil, while having an overall WI ownership of 615.2K bbl/d produced oil.
Using the same distinction between operator vs owner, we see Tourmaline Oil Corp, Canadian Natural Resources, and Ovintiv at the top. Canadian Natural Resources narrowly edged Tourmaline in the owners group with 2.55 mmcf/d while Tourmaline topped the operator list with 2.46 mmcf/d.
Congratulations to all our WCSB operators and producers for the improved success thus far in 2022.