WTTW: Fueling the Frontier – Canada’s Top 10 Producers of 2023
February 27, 2024
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.
Top Operators For “Productive” Drilling
More important than the number of wells drilled, is the production achieved with those wells. Canadian Natural Resources Limited (CNRL) ranked first in 2023, followed by Tourmaline and Whitecap Resources in third spot. Arrows indicate how they compare to their ranking from mid-year 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 Figure 2, we’ve looked at IP 90 rates for new gas wells and oil wells drilled in 2023.
Congratulations to Murphy Oil for topping the list in the Initial Gas Rates category this year, followed by Advantage, CNRL, and Logan.
Which operators achieved the best rates from their best oil wells drilled during the same period? Suncor and Greenfire were significantly higher than the rest of the field in 2023.
Note also the many operators shown that were NOT listed in the mid-year 2023 Top 10 list. Since June of 2023, seven new operators have jumped into the Top 10 list for 2023 for initial gas rates and six for oil rates, respectively.
Top 10 Operators For New Gas Production
Which operators achieved the greatest gas production (in mmcf) from wells drilled in the WCSB in 2023? Tourmaline remains in top position from the mid-year mark. They are followed by Ovintiv Energy. CNRL finished in third place in 2023.
Top 10 Operators For New Oil Production
Which operators added the highest cumulative total oil production (in mbbl) from WCSB wells drilled in 2023? CNRL continues to lead, going from mid-year 2023 to beginning of 2024. They’re followed by two operators who both jumped up the Top 10 ranking from the mid-year point, with Cenovus, who leaped from third to second place, and Crescent Point going from sixth to third.
Congratulations to all our WCSB operators and producers. Your commitment to innovative, responsible production helped re-energize our sector in 2023. Here’s hoping for an even more successful 2024!
To compare these results against previous years, check out our Production Top 10s blog history.
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