Viking

Quick Turnaround Development
Production 2,505 boe/d (Q1 2024)
51°45’7.0272”, -110°9’23.0796”

Light Oil Assets:  Significant 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
  • Western acreage developed since 2022 with substantially improved results
  • Consistent success with numerous top ten production results
  • Robust average production rates from this shallow, low-risk, highly economic resource play provide additional cash flow for the Company’s capital programs in 2023 and 2024
  • 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

  • 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
  • 2023:  Expanded and further delineated the western region of our Viking play in 2023 
    • 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