Located in East Central Alberta, our Central district is focused on producing oil from multiple, large original oil in place (“OOIP”) pools that are under historical enhanced oil recovery (“EOR”) schemes. The property has a 17-year reserve life index and an operating horizon of over 50+ years. This area is forecasted to average 5,750 boepd during 2023.
Targeting a new zone underlying existing production, a successful multi-leg open hole oil well was drilled in the summer of 2022, which will be followed up with two to four additional drills in 2023. An inventory of 50 total locations has been identified on this play. Continued success with this project will improve our cost structure in this area. In addition to this development drilling, future investment will be focused on optimization of existing assets and operating cost reductions.
