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The past month has seen a decline in licensing activity across the Canadian oil patch. From August 13 to September 12, 491 licences were obtained. This represents a 8.4% decrease over the previous month, which saw companies obtain 536 new licences. This past month’s licences were spread across 80 unique licensees, representing an average of 6.1 licences per licensee. Using data from BOE Intel and Petro Ninja , we’ve identified a number of trends across the various producers and producing formations. Top Licensees Cenovus obtained the most licences this month, more than doubling the licensing activity of the next most active licensee (CNRL). The company obtained a single licence at Elmworth-Wapiti, with the remainder of its licences spread across the company’s heavy oil assets. 30 of the company’s heavy oil licences were split between the Foster Creek and Christina Lake oil sands projects, while the remainder were in the Lloydminster thermal and conventional assets. CNRL’s 32 licences were primarily clustered in the company’s Bonnyville/Lloydminster heavy crude assets. A number of licences were obtained in NW Alberta around the Wembley and the Peace River areas. This month represents a significant uptick in activity for the company compared to last month, […]
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