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The past month has seen an uptick in licensing activity across the Canadian oil patch. From July 13 to August 12, 536 licences were obtained. This represents a 22.1% increase over the previous month, which saw companies obtain 439 new licences. This past month’s licences were spread across 80 unique licensees, representing an average of 6.7 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 Among the top licensees, we identified the following trends: For the second month in a row, Cenovus obtained the most licences of any producer in Canada. 31 of its licences targeted the McMurray formation, compared to 18 McMurray licences last month. 3 of these McMurray licences are located in the company’s Sunrise oilsands asset, while the remainder appear to be located in the Foster Creek area. The remainder, apart from a single licence targeting the Spirit River in Wapiti, were located in Lloydminster where Cenovus has thermal oil assets and conventional heavy oil assets. Tourmaline obtained 38 licences this past month, with 32 targeting the Montney and 6 targeting the Spirit River. All 6 of the […]
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