News Release

The Battle for Capital: The Duvernay

Constrained basin illustrates opportunities and challenges within Canada

byEnverus

CALGARY, Alberta (Feb. 8, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, has analyzed well recoveries and economics of the Duvernay, an unconventional oil and gas play in west-central Alberta. EIR’s report also compares results of Duvernay wells to those in the nearby Montney play, and increasingly popular and attractive formation in Canada.

“The Duvernay, an oil and gas play in Alberta, was touted 10 years ago as Canada’s equivalent to the productive and profitable Eagle Ford play in South Texas,” said Kurri Reich, a senior associate at EIR and lead report author. “But drilling results over the past decade reveal the Duvernay is smaller, less economic and holds less growth potential than its nearby neighbour, the Montney.”

Key takeaways from the report:

  • The Duvernay play in west-central Alberta sits at the back of the North American supply stack in terms of gross inventory quality and quantity.
  • The Duvernay viable inventory has average supply cost that exceeds other plays by as much as $10/bbl; The number of future development locations in the Duvernay is also much less than other plays.
  • Only a small fraction of the Duvernay has been economically proven to date, in our opinion.
  • Three operators own about 40% of drilling locations that break even at less than $55/bbl WTI.

You must be an Enverus Intelligence® subscriber to access this report.

EIR’s analysis pulls from a variety of Enverus products, including Enverus Activity AnalyticsEnverus Core®, Geoscience Analytics and Placed Well Analytics.

Members of the media should contact Jon Haubert to schedule an interview with one of Enverus’ expert analysts.

About Enverus Intelligence Research
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Enverus is the most trusted, energy-dedicated SaaS platform, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 98% of U.S. energy producers, and more than 35,000 suppliers. Learn more at Enverus.com.

Media Contact: Jon Haubert | 303.396.5996

View all press releases at Enverus.com/newsroom.

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