October 30, 2026

Duvernay full cycle costs range from a low of USD $1.60/Mcf for wells with an Initial Productivity (IP) greater than 12 MMcf/d to a high of USD $14/Mcf for wells with an IP below 3 MMcf/d, inclusive of liquids uplift. Average liquids uplift in Duvernay is USD $2.27/Mcf. Average Operating costs are USD $1.20/Mcf while royalties & taxes are USD $0.19/Mcf. F&D costs range from USD $1.00 to $8.80/Mcf and the 15% producer return ranges from USD $0.65 to $5.87/Mcf. Basis differential to Henry Hub is not included.

Incorrys analysis shows 13 Tcf of gas resource available below USD $3/Mcf and 15 Tcf available below USD $4/Mcf. Raw gas production in 2025 was 0.75 Bcf/d.