November 4, 2024
Saskatchewan oil full-cycle costs at West Texas Intermediate (WTI) equivalent range from a low of USD $47.28/Bbl for wells with an Initial Productivity (IP) greater than 1200 Bbl/d to a high of USD $86.00/Bbl for wells with an IP of under 300 Bbl/d. Average Operating costs USD $16.71/Bbl while royalties & taxes and overhead are USD $12.11/Bbl. F&D costs range from USD $3.06-$25.53/Bbl and the 15% producer return ranges from USD $2.22-$18.47/Bbl. The assumed WTI differential is USD $13.18/Bbl.
Full-Cycle Cost Curve
Incorrys analysis shows that there is 300 MMBbl of oil resource available below USD $50/Bbl and 1,250 MMBbl available below USD $60/Bbl.
Saskatchewan Basin Location
Saskatchewan oil production includes heavy oil and conventional oil in the western portion of Saskatchewan plus some Bakken production in the southeast.
Number of Drilling Locations
Incorrys estimates that Saskatchewan has only about 1,500 drilling locations with productivity greater than 300 Bbl/d but almost 45,000 drilling locations with productivity below 300 Bbl/d.