5 key insights about Western Canada’s top well licensees

Montney drilling. Image: Ovintiv

Tourmaline Oil Corp. leads the pack as the most active licensee of new wells in Western Canada during 2020, according to Rig Locator.

Click here for a free Excel download of the Top 25 Licensees of new wells this year.

Here are five key insight based on data collected and presented by Rig Locator as well as the Daily Oil Bulletin’s well licence dashboard:

  • Only five companies have licensed more than 100 wells so far in 2020. Besides Tourmaline, that group includes Crescent Point Energy Corp., Teine Energy Ltd., Canadian Natural Resources Limited and Husky Energy Inc.
  • The Montney is the key target zone for most new wells, with 642 new well licences in 2020 targeting that formation.
  • The Viking is the target for the second-highest number of new wells — at 389 licences year-to-date.
  • Tourmaline leads the race in Montney licensing. Close to 70 per cent of the company’s 2020 licences target that zone.
  • Tourmaline has licensed more than twice the number of Montney wells in 2020 than its nearest competitors — Ovintiv Canada ULC, ARC Resources Ltd. and Petronas Energy Canada Ltd.

Click here for a free Excel download of the Top 25 Licensees in 2020.