July 12, 2024

Location: Alberta

Number of oil wells drilled since 2010: ~ 2,900

Average New Well Initial Productivity in 2023: 182 MBbl/d

Peak Production: 2012 (221 MBbl/d)

Oil production from the Cardium declined from about 65,000 Bbl/d in 2014 to 36,000 Bbl/d in 2023. Incorrys is forecasting production to grow post 2023 to almost 45,000 Bbl/d before declining to 40,000 Bbl/d in 2040.

 

Cardium Oil IP

Oil Well Initial Productivity (IP) dropped from 220 Bbl/d in 2014 to about 180 Bbl/d in 2023. Initial productivity is expected to grow post 2023 to 220 Bbl/d by 2035, declining to 200 Bbl/d by 2040.

 

Cardium Oil EUR

Well EUR averaged just over 100 MBbl between 2014 to 2019 and has since increased 120 MBbl er the past few years. Incorrys is forecasting well EUR to stabilize at about 130 MBbl post 2023.

 

Cardium Oil Number of Wells

The number of new wells in the Cardium formation dropped from 350 in 2014 to just under 100 over the past couple of years.

Incorrys is forecasting the number of new wells to grow slowly to 115 by 2033 before declining slightly to 104 in 2040.

 

Cardium Oil Drilling Locations

The map shows all wells drilled in various Cardium formations (Cardium A, B, …) since 2000.

Commingled wells are not shown