Word to the Wise: Top 10 Operators: New Well Production in First Half of 2023

October 3, 2023

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.  

Twice a year, XI Technologies reaches into the public data stored in its applications to highlight the top companies who achieved the most successful production from new wells.  

To compare these results against previous years, check out our Production Top 10s blog history (click here). 

Top Operators for “Productive” Drilling 

 More important than the number of wells drilled is the production achieved with those wells. Just like the previous year, CNRL is in the top spot for the first half of 2023, followed by Teine Energy, then Baytex, who replaced Tourmaline, in third spot. Arrows indicate how they compare to their ranking from our ‘22 year-end recap. 

Figure 1: Top Operators for Productive Drilling in 2023

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 graphics below we look at IP 90 rates for new gas wells and oil wells drilled in the first 6 months of 2023.   

To view and compare these results with our 2022 year-end recap, click here 

Congratulations to Ovintiv for topping the list and jumping three spots from last year in the Initial Gas Rates category, followed by Murphy, Insignia, and Tourmaline.  

Figure 2- Best Initial Gas Rates in 2023

Which operators achieved the best rates from their best oil wells drilled during the same period? Kelt was significantly higher than the rest of the field in the first half of 2023. Highwood and Archer were only separated by 5 and came second and third respectively. 

Figure 3 – Best Initial Oil Rates in 2023

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 2023? Tourmaline remains in the top position. They are followed by Ovintiv Energy who gained four places by jumping from sixth to second. Canadian Natural Resources landed in third place. 

Figure 4 – Top 10 Gas Producers from New 2023 Wells

Top 10 Operators for New Oil Production  

Which operators added the highest cumulative total oil production (in mbbl) from WCSB wells drilled in the first half of 2023? CNRL continues to lead from last year. They are followed by Baytex and Cenovus who take a distant second and third place respectively.

Figure 5 – Top 10 Oil Producers from New 2023 Wells

Congratulations to all our WCSB operators and producers. Your commitment to innovative, responsible production continues to re-energize our sector in 2023. Here’s hoping for an even more successful second half of 2023!  

If you’d like a copy of this report, click here to download.  

Want to learn more about these top-rated operators and their high performing wells? Contact XI Technologies for a demo.