Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here.
Earlier this year, we published our first Production Top 10s list, illustrating the top producing companies in Western Canada in 2020. This week, we want to look at how 2021 is shaping up by looking at the midpoint of the year to see if it reveals something about the growing industry optimism.
The data on this list is compiled from our AssetBook software, the ultimate industry intelligence source for Canadian E&P companies and anyone who does business with them. Click on any of the below graphics for a zoomed in look. The data reflects production levels as of June 2021.
Top 10 Oil Producers
To determine the top oil producers, we considered two perspectives: the OWNERS of producing oil assets, versus the OPERATORS of those assets. In cases where the same company appears on both lists, we can see that the majority of owners are operating their own assets.
In either case, we see that, Cenovus Energy, CNRL and Suncor lead the pack, with Cenovus operating oil assets that produce 497.3K bbl/d of oil, while having an overall WI ownership of 562K bbl/d produced oil.
Top 10 Gas Producers
Using the same distinction between operator vs owner, we see Tourmaline Oil Corp dominating from both perspectives (2,392k and 2,311 mcf/d respectively). From there, the rankings split between Ovintiv and CNRL depending on which aspect you’re considering. The same can be seen with Petronas and Cenovus as they share 5th and 6th spots in the ranking.
Congratulations to all our WCSB operators and producers. Our industry has proven its resilience in recent years, positioning itself well for a bounce back period.
Want to learn more about these top-rated operators and their high performing wells? Contact XI Technologies for a demo of AssetBook. Additionally, XI is hosting a webinar on Nov 2nd to demonstrate how Service and Supply companies can use data from AssetBook for more efficient business development. Click here for more details.