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Founded in 2015, Artis Exploration is a pure play Duvernay producer with a unique asset base. Averaged over the last 6 months, Artis is the 2nd largest producer of oil and the 10th largest producer of natural gas in the Duvernay producing formation (please note that much of the liquids produced from the Duvernay come in the form of condensate, for which public data is not available at the well level). The company drew headlines after receiving a $180 million investment from private equity firm Warburg Pincus in May 2018. In order to give our readers a glimpse into Artis’ operations, we’ve conducted a review of the company’s recent well and transfer activities as well as its production levels. Overview Artis Exploration has established a base of largely-contiguous rights within the Twining and Elnora fields of the Duvernay East Shale Basin. In contrast to many producers in this region, who largely prioritize the Belly River and other producing formations, Artis is a pure-play Duvernay company. We think the pure-play label is actually underselling the niche that the company has carved for itself though, as Artis controls the vast majority of Duvernay wells in its area; as demonstrated below, there […]
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