Alberta Central Oil Full Cycle Costs

November 3, 2024

Alberta Central oil full cycle costs at West Texas Intermediate (WTI) equivalent range by initial productivity (IP) and cost component.

Alberta Central oil full-cycle costs at West Texas Intermediate (WTI) equivalent range from a low of USD $39.07/Bbl for wells with an Initial Productivity (IP) greater than 1200 Bbl/d to a high of USD $70.44/Bbl for wells with an IP of under 300 Bbl/d.
Average Operating costs USD $10.47/Bbl while royalties & taxes and overhead are USD $11.15/Bbl.
F&D costs range from USD $2.43-$20.27/Bbl and the 15% producer return ranges from USD $1.84-$15.37/Bbl.
The assumed WTI differential is USD $13.18/Bbl.

Full-Cycle Cost Curve

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Incorrys analysis shows that there is no oil resource available below USD $50/Bbl and 1,800 MMBbl available below USD $60/Bbl. Current production (2023) was 30 MBbl/d (11 MMBbl/yr).

Alberta Central Basin Location

Alberta Central wells are located around Leduc Alberta. Wells targeting Montney, Duvernay, and Clearwater are not included.

Number of Drilling Locations

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Incorrys estimates that Alberta Central has over 18,000 drilling locations with productivity greater than 300 Bbl/d and almost 73,000 drilling locations with productivity below 300 Bbl/d.
Wells producing bitumen and Clearwater wells, located in the same geographical area, are not included.