Evaluate Energy Data: Top Private Producers In Canada Based On Operated Production
Torxen Energy Ltd., operator of 65,000 boe/d in southern Alberta, was Canada’s largest private producer in 2019 based on operated production.
The company’s assets in the Palliser area were acquired from Cenovus Energy Inc. in 2017 for $1.3 billion. Most of the top private operators are producing out of Alberta wells, but the other western Canadian producing provinces are represented in the top 10 by Teine Energy Ltd., Tundra Oil & Gas Limited and Black Swan Energy Ltd., according to Evaluate Energy. (The DOB and Evaluate Energy are both a part of Glacier Resource Innovation Group.)
One company that is not on the list for 2019 that should jump high into the Top 10 in 2020 is Cona Resources Ltd. The Waterous-backed company averaged around 18,000 boe/d of operated production from its Saskatchewan and British Columbia wells in 2019, falling just short of 2019’s Top 10. The company completed the $740 million acquisition of Pengrowth Energy Corporation in early January, however — a company that produced over 22,000 boe/d of production, including non-operated positions, in the first nine months of 2019.
Note: This private company production data only includes production from wells where the named company is listed as the operator in provincial government data. The private company data does not account for each company’s net interest in these wells, nor does it include production from wells where the private companies own a minority stake.
- Cenovus Energy Inc.