About our Leading Cardium Play Areas 

As one of North America’s most significant light oil fields, our Cardium assets provide a strong growth foundation with over 25 years of drilling opportunities for future development. Characterized by low-decline and high-netback light-oil, we have focused on fine-tuning our expertise in this area, manufacturing repeatable primary well development across our unmatched Cardium land base. 

Some of the key attributes of the play include:

• Largest acreage holder with ~25 years of drilling opportunities at current drilling rates
• Best-in-class wells in Willesden Green acreage since mid-2018
• Low cost, high return optimization programs and field management in Pembina yield strong results, keeping production decline rates low
• Fully delineated and de-risked asset with years of development potential 

Our Cardium plays are broken out into two areas:  Willesden Green, composed of Crimson Lake and East Crimson land; and Pembina.  In Willesden Green, we continue to deliver excellent results year-after-year. In 2021 and 2022, we drilled top pacesetter Cardium wells, proving our expertise in the area. We successfully returned to development drilling in the Pembina area in mid-2021, achieving strong production results in the new wells as we transferred the skills learned in Willesden Green development to the Pembina area.

FIELD HISTORY

• Development since the 1950’s; various phases has kept field producing for over 70 years
• Advances in horizontal and halo drilling since late 2000’s rejuvenated the field