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The past month has been a very active period for licensing activity in the Canadian oil patch. In total, there were 591 wells licensed between April 11, 2023 and May 11, 2023, a 39.4% increase over the previous month and a 4.0% increase over activity in February and March (you can find last month’s article here ). These licences were also distributed to a larger number of companies in this period; there were 61 unique licensees in the past month, compared to 48 in the month prior. Using data from BOE Intel and Petro Ninja , we’ve identified a number of trends across the various producers and producing formations. Top Producers Top Licensees Licensee Count Whitecap Resources Inc. 46 ARC Resources Ltd. 41 Lycos Energy Inc. 41 Crescent Point Energy Corp. 33 Tamarack Valley Energy Ltd. 30 Spur Petroleum Ltd. 29 Canadian Natural Resources Limited 27 Teine Energy Ltd. 26 Strathcona Resources Ltd. 20 Ovintiv Canada Ulc 20 Others 278 Total 591 Among the most active companies over the past month, there are some noteworthy trends: Whitecap was the most active licensee in this period, with activity across wide swathes Alberta and Saskatchewan. Of Whitecap’s 37 licences for which […]
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