Fueling the Frontier: Canada’s Top 10 Producers of 2024
April 1, 2025
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 (CNRL) ranked first for 2024, followed by Tourmaline, and Whitecap in third spot. Arrows indicate how they compare to their ranking from mid 2024.
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 the first half of this year.
Congratulations to Ovintiv for topping the list in the Initial Gas Rates category this year, followed by Shell Canada, Harvest, and Murphy Oil.
Which operators achieved the best rates from their best oil wells drilled during the same period? Greenfire is significantly higher than the rest of the field for 2024.
Note: Many operators shown were NOT listed in the Mid-2024 Top 10 list. Since mid 2024, six new operators have jumped into the Top 10 list for the first half of 2024 for initial gas rates and eight 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 2024? Tourmaline remains in top position and are followed by Ovintiv Energy. CNRL moved from fourth spot at the mid point of 2024 up into third place for 2024.
Top 10 operators for new oil production
Which operators has the highest cumulative total oil production (in mbbl) from WCSB wells drilled? Cenovus is leading over CNRL for 2024. Those two are followed by Whitecap, and Baytex.
Congratulations to all our WCSB operators and producers. Your commitment to innovative, responsible production helped energize our sector for 2024. Here’s hoping for an even more successful 2025!
To compare these results against previous years, check out our Production Top 10s blog history.
—
Upcoming Events / Trainings:
ARO Manager For Financial Tracking and Reporting Certification Course provides practical, hands-on professional development for anyone interested in expanding their knowledge of Asset Retirement Obligation (ARO) tracking and reporting.
When: April 15th and April 17th at 9:00am
Space is limited so be sure to register now for the course. This is 2x half- day course taking place in person at the XI office.
AssetBook 101: This introduction to AssetBook course will help you identify potential new clients and opportunities for acquisitions, divestitures, mergers, trades, and farm-in potential.
When: April 15th at 2pm (in person at our Office)
Length: 1 Hour
ARO Manager 101: This introduction to AssetBook ARO Manager will help you create new projects, navigate, and view cost models.
When April 17th at 1pm (both are in person at our Office)
Length: 1 Hour
Getting the Most Out of Maps Information: Discover the available functions and workflows utilizing all aspects of the mapping tool, including:
- Searching using corners or polygons
- Layering sets of assets on the map
- Searching using mapped assets
- Workflow demonstrations to show assets on the map that meet set criteria
When: April 30th 1pm (Online)
Length: 30 minutes
Using LCA & LLR reports to your Advantage: Learn how to run an LCA and LLR report, and how these reports align with Directive 088 with regards to A&D Scoping.
When: April 29th at 9am
Length: 30 minutes
Latest Webinars:
ARO Manager for Financial Tracking & Reporting
- Get a more complete picture of asset retirement costs.
- Cost management is a vital part of the business and operating strategy for every Canadian oil and gas producer. But if you are focused primarily on development and operations costs, then you are missing a significant part of the picture.
- AssetBook ARO Manager is the first and only software application specifically designed for estimating and monitoring asset retirement obligations (ARO) in the Western Canada oil and gas sector. For exploration and production companies, ARO Manager provides transparency and SOC-compliant assurance when monitoring and tracking liabilities for financial reporting.
H2S Reporting – Why Accuracy, Efficiency, and Compliance Matters
Struggling to meet H2S reporting requirements with limited resources or time? We’ve got you covered.
In our latest webinar, we provided valuable insights on:
- Regulatory rules and expectations, including revisions to Directive 056.
- How to ensure compliance, find efficiencies, save costs, and work as a team for consistent and transparent APEGA-approved reporting.
- Manage mergers, acquisitions and divestitures with ease (no duplication of reports).
- Learn about H2SComplete as a full solution to help you quickly manage and mitigate risks associated with hydrogen sulfide (H2S) safety.
XI Technologies has moved to our NEW LOCATION:
XI Technologies Inc.
2400 – 500 4th Avenue SW (Altius Centre)
Calgary, Alberta T2P 2V6
Curious to learn more about XI’s product suites? Book a product demo today!
The number of users for XI Technologies modules is not limited to individual seats. The modules are accessible on a corporate wide subscription. Your company may have a XI Technologies AssetBook subscription. To register for access to your corporate account, click here.
—
Each week, XI Technologies uncovers trends and insights using our enhanced data and software focused on the WCSB. If you’d like Word to the Wise delivered directly to your inbox, subscribe here. For more tips and to learn about how XI’s DrillingSuite can help with your high-level analysis visit XI’s website or contact XI for a demo.