Operations

Overview

Bonterra’s oil and natural gas properties are strategically located across three of Alberta’s premier light oil plays: the Pembina Cardium, Bonanza Charlie Lake and Wembley Montney.

Building on  Bonterra’s high impact assets, disciplined growth and efficient capital approach, we are expanding operations, and developing our high-growth potential areas to deliver long-term growth in production, reserves and funds flow.

For the most recent information on our oil and gas assets please refer to our latest Corporation Presentation.

Operational Excellence is at Our Core

Bonterra has proven operational excellence, with more than two decades of hands-on experience in the Western Canadian Sedimentary Basin

Pembina Cardium

Our largest asset is a concentrated position held in the Cardium play, one of Canada’s largest oil fields, located in the Pembina and Willesden Green fields within central Alberta. 

  • Pembina Cardium is the largest conventional oil field in Canada with an estimated original oil in place (OOIP) of 10.6 billion barrels and <15% produced to date
  • Cardium pool offers stable production, quality balanced and robust netbacks
  • Bonterra operates ~92% of our Cardium production and the majority of our related oil and gas processing facilities
  • An evolution of our pool exploitation strategy in the Cardium aligns with a more resource play-based program, and along with new horizontal drilling and completion technologies, has facilitated improved recoveries and decreased costs
  • Utilizing pad drilling from sites with existing infrastructure enables improved efficiencies in the field and general service cost reductions, driving reserves growth with attractive capital efficiencies

Bonanza Charlie Lake

A meaningful growth asset and Company growth driver in this substantially de-risked play.

Bonterra’s land position in the Bonanza Charlie Lake asset  is fully operated and provides a long-term development runway supported by highly economic horizontal drilling opportunities. Bonterra’s proven operational expertise in Cardium light oil development is directly transferable to the Charlie Lake, supporting efficient execution and contributing to growing free funds flow and long-term value creation.

Wembley Montney

A large, long-life scalable resource opportunity that adds meaningful upside.

Bonterra’s Wembley Montney asset in the Valhalla area of northwestern Alberta, west of Grande Prairie, consists of 100% working interest lands. The Montney is recognized as one of Canada’s highest impact and most economic plays. The emerging Wembley Montney asset is expected to provide greater optionality and represents a meaningful growth opportunity, enhancing Bonterra’s inventory depth and long-term value potential.