Cenovus Drilled the Most Wells in Alberta Between Jun 26, 2016-Jun 21, 2017

Despite the difficult operating environment in the oil and gas industry, Cenovus has continued to actively drill and produce in Alberta.

As forecasted in their corporate update of Jun 20, 2017, Cenovus has estimated total production to be 482 Mboe (482,000 boe) by the end of 2017. See excerpt below.

While the production estimate includes the assets they’ve purchased from Conoco-Phillips, we at Fuzeium were curious as to what kind of drilling program they’ve had in Alberta.

Between Jun 26, 2016, and Jun 21, 2017, Cenovus and Cenovus FCCL drilled 562 wells, which is more than their next competitor CNRL (438 Alberta wells drilled) and significantly more than the top 10 (licensee) average of 190 (Alberta wells drilled).  Cenovus’s drilling operations accounted for about 14% of total drilling activity in Alberta during that period.

Cenovus’s drilling activity in 2017 relates to 195 licenses issued since the beginning of the year. Their licensing is split between their Heavy Oil assets (Foster Creek/ Christina Lake) and their Crude Oil assets in South East Alberta.

In short, Cenovus has been the most active licensee in terms of drilling wells in Alberta from Jun 2016 to Jun 2017.

* the maps above were derived from Fuzeium’s Well Intelligence dashboards for Alberta, which interprets public data from the AER.

*All information is provided subject to our Terms of Use, including disclaimer of warranties and limitations on liability. © Fuzeium Innovations Inc. To provide feedback, contact us at info@fuzeium.com


Who’s Been Drill’n for Oil & Gas in Alberta?

Who’s been drilling in Alberta? Well, it is a moving target, but this dashboard shows the last 14 days.

Click on the dashboard below to find out.
(Use the “Full Page” diagonal arrow for full screen.)

How to....

And if you want more detail over the last year and see who the drilling contractors were, subscribe to Fuzeium’s Well Intelligence module.

You’ll be able to access a drilling activity dashboard that looks something like the following, which was captured as just an image on Jun 2, 2017.

Definition and Interpretation:  

  • The data used is AER ST 49 – Daily Drilling Activity (spudding of new wells).
  • Interpretation of the source data is done by Fuzeium using a variety of data integration and visualization techniques.

*All information is provided subject to our Terms of Use, including disclaimer of warranties and limitations on liability. © Fuzeium Innovations Inc. To provide feedback, contact us at info@fuzeium.com

 

 

Is CNRL Continuing to Drill for Heavy Oil?

This week saw Canadian Natural Resources Limited (CNRL) significantly extend its investment in heavy oil with the purchase of Shell Canada’s oil sands interests.   And yes, licenses issued to CNRL suggest it’s drilling program will continue to be very active, especially in in heavy oil (crude bitumen).

The chart below shows that 136 licenses have been issued for CNRL between 21/11/2016 – 09/03/2017 (the last 3.5 months).  As we see from the donut chart, these licenses were made up of over 67% crude bitumen, as represented in green.

Issued CNRL LicensesClick to Interact

For context, the chart below shows all 1615 licenses that were issued to operators in Alberta during that same period (including CNRL).   The donut chart now indicates a more even distribution of licenses; crude bitumen represents just over 24% of the total.    It is also interesting to see where in Alberta operators hope to find gas (in red), crude oil (in black), and crude bitumen (in green).

Issued Licenses

Interpretation:
This analysis was largely based on the AER Well Licenses Issued (ST1) file.

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To see numerous other dashboards on the subject, please see this link.

*All information is provided subject to our Terms of Use, including disclaimer of warranties and limitations on liability. © Fuzeium Innovations Inc. To provide feedback, contact us at info@fuzeium.com

How Much Has Alberta Drilled for Natural Gas? (2015-2016)

“Natural gas is one of the cleanest, cheapest and most efficient sources of energy.  Alberta accounts for 68 per cent of the natural gas produced in Canada.”*  But how much drilling for natural gas has occurred in Alberta during the downturn?

The amount of drilling is approximated through Alberta drilling activity records between 2015 and 2016.  For instance, 41% (2,000 ) of all wells drilled (4,878) in that period were licensed for Gas (indicated by red colour in the charts below).  The remaining 60% of all wells drilled were licensed for oil (indicated by grey) and bitumen (indicated by green).

What substances did O&G companies drill for during 2015 and 2016?

The red portions of the chart below show that a number of companies devoted some of their 2015 and 2016 drilling schedules to gas wells.   In fact, gas well drilling was spread across 81 of the 196 operators who drilled during that period.   Peyto, Encana, and Tourmaline were the top 3 operators of gas wells drilled (indicated by red portions of the bars).

Substance composition of top 15 companies

Interpretation:
Drilling activity had dropped sharply along with oil and gas prices since 2014.  By combining the Drilling Activity data from the AER (ST49) with the Well Licenses Issued (ST1); we can see the licensed substance for each drilling event.

* Alberta Energy Natural Gas

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To see numerous other dashboards on the subject, please see this link.