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Ovintiv has a bit of a reputation for blasting a lot of natural gas into the Canadian market at the drop of a hat. It’s probably an unfair reputation, but it is the direct result of having some of the best Montney acreage around, and routinely drilling the most prolific natural gas wells in Canada. Our monthly top well reports almost always feature 10-15 of the top 15 natural gas wells from Ovintiv, proving the high quality of its acreage in northeast BC and elsewhere. In September for example, we highlighted these 3 wells that had cumulatively produced over 25 BCF of gas in less than a year. So it might surprise readers to find out that the thing Ovintiv has done that it hasn’t done in over a decade is actually related to a lack of activity. Namely a lack of new well licences. In fact, Ovintiv has gone over 5 months since it licensed its last well in Canada on June 12th. Going back to 2010, we didn’t find a single instance of Ovintiv having such a long period between licences. It’s possible that this is simply the fact that licences tend to come in bunches these […]
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