Word to the Wise: Heritage Field Overview

July 18, 2023

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. 

Given the popularity of our regional analysis, we thought we’d take a look at one of the more prolific fields in the Western Canadian Sedimentary Basin (WCSB): Heritage has 11% of the production coming from the WCSB. It sits among the top 10 fields, making up 59% of the production, with the other approximately 1,100 fields making up the remaining 41%.   

Figure 1 – Top 10 fields in the WCSB.

Geographically, Heritage sits mainly in the Peace River Region of BC. It is a large field of Montney production that overlaps several smaller ones, each with different plays of interest.   

Figure 2 – Well assets.

Currently, approximately 682,337 boe/day is coming from this field (Heritage) and zone (Montney). The bulk of this production is from 2015 and later, with a large portion starting in 2019 and continuing to the present, as indicated by the graph below.

Figure 3- Production by year in Heritage.

The biggest owner of this play is Ovintiv Canada ULC, with a little over 40% ownership. This play is relatively concentrated, with a little over 70% of the production held by the top 3 companies in the field.  

Figure 4 – Total Production by Working Interest.

To see a breakdown of ownership for this area, please download our Heritage Field Area Ownership Overview. 

Using the government’s cost model, these Heritage wells and facilities have a total undiscounted liability of approximately $380 million, with 6% of the well licenses and 4% of the facilities designated as inactive.  Over 43% of the active wells are 5 years or younger, and there have been no reported spills on these assets.  

Let us know if there is another zone or play in which you may be interested in learning about drilling, production or liabilities – take our quick poll here to provide us with feedback on which area the next insight should highlight!

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If you’d like to learn more about how XI’s AssetSuite software can analyze companies, packages, or regions throughout Western Canada, visit our website or contact XI Technologies.