July 16, 2024

Location: Alberta

Number of oil wells drilled since 2010: ~ 1,900

Average New Well Initial Productivity in 2023: 368 Bbl/d

Peak Production: 2022 (446 MBbl/d)

Alberta West Central oil production declined from 65,000 Bbl/d in 2014 to a low of about 45,000 Bbl/d in 2016 before rebounding in 2023. Incorrys is forecasting production to increase to almost 70,000 Bbl/d in 2029 before dropping to 40,000 MBbl/d in 2040.

 

Alberta West Central Oil IP

Initially Productivity grew from about 300 Bbl/d in 2014 to a high of almost 450 Bbl/d in 2022. Initial productivity declined into 2023 and is expected to gradually drop to just over 300 Bbl/d by 2040.

 

Alberta West Central EUR

Well EUR averaged just over 210 MBbl between 2014 and 2022 before dropping to 185 MBbl in 2023. EUR finally settled at about 240 MBbl in 2023. Incorrys is forecasting well EUR to decline slightly over the next 3 years to 175 MBbl in 2028.

 

Alberta West Central Oil Number of Wells

The number of new wells in the Alberta West Central oil region dropped from 240 wells in 2014 to under 100 in 2023.

Incorrys is forecasting the number of new wells to increase to about 125 by 2028 before declining to just over 50 in 2040.

 

Alberta West Central Oil Drilling Locations

Wells drilled Alberta West Central area since 2000.

Wells targeting Montney, Duvernay, and Cardium formations are not included

Commingled wells are included

Wells classified as Condensate are not included

Other target formations include Charlie Lake, Beaverhill Lake, Dunvegan, Halfway, Doe Creek and others