July 12, 2024

Location: Alberta, British Columbia

Number of oil wells drilled since 2010: ~ 1,200

Average New Well Initial Productivity in 2023: 710 Bbl/d

Peak Production: 2020 (819 MBbl/d)

Montney oil production grew from about 20,000 Bbl/d in 2014 to over 50,000 Bbl/d in 2023. Incorrys is forecasting production to continue to grow post 2023 peaking at almost 60,000 Bbl/d by 2028 before declining to 37,000 Bbl/d in 2040.

 

Montney Oil IP

Well Initial Productivity (IP) dropped from over 820 Bbl/d in 2020 just over 700 Bbl/d in 2023. Initial productivity is expected to gradually decline post 2023 to about 600 Bbl/d by 2040.

 

Montney Oil EUR

Well EUR peaked at 400 MBbl in 2020 before dropping to about 350 MBbl in 2023. Incorrys is forecasting well EUR to decline slightly from over 350 MBbl in 2024 to 340 MBbl in 2026.

 

Montney Oil Number of Wells

The number of new wells in the Montney formation increased significantly from under 100 in 2020 to almost 400 in 2023.

Incorrys is forecasting the number of new wells to grow slowly and peak at about 415 wells in 2027 before declining to under 200 in 2040.

 

Montney Oil Drilling Locations

 

Wells drilled in the Montney formation since 2000.

Wells classified as oil and volatile oil are shown and analyzed.

Wells classified as condensate and commingled wells are not shown.