Light Oil Assets: Viking
Quick Turnaround Development
Production 1,520 boe/d (Q1 2025)
51°45’7.0272”, -110°9’23.0796”
Stable Returns with Development Upside
History of unlocking reserves and production value
The Viking stands out as a sweet, light oil development play with associated natural gas located in central Alberta. As a result, this asset offers highly economic returns while providing the Company with the opportunity to continue drilling through the typical spring break-up period due to favourable ground conditions in the area. Some of the key attributes of the play include:
- Significant drilling inventory, including both low-risk infill and de-risked step-out development
- Superior netbacks due to lower well costs, combined with owned and controlled infrastructure and direct market access
- Shallow, low geological risk resource play
OUR VIKING ASSETS
- Shallow, low-risk, highly economic resource play with high impact development programs
- Drill ready inventory provides optionality for our portfolio
- Western acreage developed since 2022 with substantially improved results
- Robust average production rates from this shallow, low-risk, highly economic resource play provide additional cash flow for the Company’s capital programs
- Ample capacity for further Viking development with our strong established inventory of quality locations and 100% ownership of oil and gas infrastructure in the region
HISTORY
- 2024: Higher production as H2 2023 program wells onstream
- Wellbore optimization helped reduce production declines
- 2023: Expanded and further delineated the western region of our Viking play
- First half 11-well program showed robust average daily peak rate per well of 293 boe/d, and daily cumulative rate of over 2,000 boe/d on multiple days (as of August 2, 2023)
- Accelerated 8-well program into second half of 2023 with all wells onstream by year-end
- 2022: Returned to development drilling in our Viking area (focused in the Esther area) with highly successful 8-well program
- Material oil discovery with the first step-out well 2 producing exceptional results and delineating our western acreage