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Operations

Overview

Bonterra’s core oil and natural gas properties are located in Alberta, primarily in the Cardium oil play and an emerging Montney exploration opportunity, with non-core assets in Saskatchewan and British Columbia.

Building on the strength of Bonterra’s asset base, disciplined approach to capital management and exceptional team, we are focused on expanding our operating footprint, formulating new core areas to increase the Company’s drilling inventory, while targeting sustainable growth in production, reserves and funds flow.

Operational Excellence is at Our Core

Cardium

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

  • 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 light oil and robust netbacks
  • Bonterra operates ~93% 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

100.7 million BOE

19.4 years

312 net sections

284

Approx. 21%

92%

Montney

One of Canada’s highest impact and most economic plays.

Other Assets

Prespatou

Northeast British Columbia

Bonterra has assets in the Prespatou area of northeast BC, which consist almost entirely of natural gas and associated natural gas liquids. Careful evaluation of the geology within the area where we hold interests has been undertaken to assess and identify potential drilling and workover opportunities. A drilling inventory has been established and a drilling program may be conducted driven by strengthening natural gas prices.

Shaunavon

Southwest Saskatchewan
Our Shaunavon properties are in the Chambery field, and are producing medium density crude oil from the upper Shaunavon formation that is under waterflood.

The wells in this area are generally long-life with stable, low-decline production profiles and Bonterra is optimizing the existing waterflood program to further increase profitability from the existing property.