Positioning the Sturgeon Lake Duvernay
Canada's Duvernay stands out as a top-tier light oil resource, backed by a decade of progress, 1,500 wells, and a $10 billion R&D investment. The focus has shifted dynamically toward the oil-window in the past eight years, marked by extensive drilling.
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There has been a significant trend of consolidation within the play, as several major operators are strategically focusing on achieving substantial production growth over the next five years.
Regional Duvernay Spanning 600 kilometers
Contiguous Reservoir from Sturgeon Lake to Kaybob
B-32’s acreage represents the northern extension of the Greater Kaybob Duvernay and falls within the oil window. Notably, Crescent Point Energy, Paramount Resources and Hitic Energy have been achieving remarkable production results from their Duvernay wells within this basin, solidifying its status as one of the most productive areas in the entire Duvernay.
Recent monobore drilling by Hitic Energy and a 4500 meter lateral by GMT Exploration is taking the capital efficiencies of the play to the next level.
The Duvernay is mappable from Sturgeon Lake to Kaybob with consistent well control and a quiet depositional environment making it a highly predictable reservoir target.
Stratigraphic Correlation: Sturgeon Lake - Two Creek
B-32's Sturgeon Lake Duvernay
The Sturgeon Lake Duvernay has ten producing horizontal wells, confirming high-quality reservoir attributes. The reservoir is over-pressured (14-17kPa/m) and produces premium 41° API sweet crude oil, with a minimal gas-oil ratio.
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The Sturgeon Lake area has access to well-developed surface infrastructure, oil/gas egress, gas processing, and fresh water for unconstrained development.
B-32's Duvernay Land Base in the Sturgeon Area
The recent transition from Generation 1 to Generation 2 completion and flowback methodologies in Hitic’s latest 3 wells has demonstrated type curve productivity and highly economic returns.
Sturgeon Lake Results
Hitic has successfully drilled and completed four new wells using monobore drilling technology. Production has commenced from these wells after a soaking period, and early production and pressure survey results align with our expectations