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Permits from January to June 2025 are up ~20% compared to the same period in 2024 (based on actuals plus forecasted June volumes). The trend is consistent across key producing areas such as Lloydminster, Cold Lake, and Peace River. Optimization + brownfield growth CNRL 810–835K ~2.8 Cost control, reliability Imperial Oil 400–430K ~2.0
Canadas oil and gas sector remained resilient in 2024, with several operators reporting record-breaking production volumes. 579,173 BOE/d +11% from 2023 Suncor Energy ~600,000 BOE/d capacity Oil sands operations Mid-Size Producers (100,000 499,999 BOE/d) Company 2024 Average Production Notes ARC Resources Ltd. Vermilion Energy Inc.
This bolt-on isn’t just about expanding land—it’s about unlocking 100+ gross operated two-mile locations with shallow declines and $30/bbl breakevens. The company sold midstream assets in Reeves County to Kinetik Holdings for $180 million, freeing up capital and sharpening its focus on core E&P operations.
While it lacks the scale of the Permian or Eagle Ford, the DJ offers operators attractive breakeven costs, strong midstream infrastructure, and a strategic position for gas-weighted growth. While not as prolific as the Permian or Eagle Ford, it offers strong midstream infrastructure and low breakeven costsmany sub-$50/bbl.
Based on a combination of historical data and AI-driven time series forecasting , well permit volumes from March through May 2025 are expected to total approximately 1,790 permits a sharp decline from the 2,304 permits issued during the same period in 2024.
Onshore Oil Production Trends (20102024) Metric 2010 2024 % Change Total Onshore L48 Production 3.4 million b/d ( 45% from 2020) Non-Permian Tight Oil (2024): 4.1 from 2020) Permian Plays Driving Production Permian Play 2024 Production Notes Wolfcamp 3.4 million b/d ( 45% from 2020) Non-Permian Tight Oil (2024): 4.1
The results show a moderate but consistent pace of development, with several high-activity months in mid-2024. This is well below the monthly highs seen in 2024. wells These figures represent a downward trend compared to the same period in 2024 , where SM Energy drilled 4, 15, and 16 wells in June, July, and August respectively.
share) at US$70/bbl WTI Free Funds Flow: $550 million Net Debt: Maintained under $1 billion with a 0.3x share) at US$70/bbl WTI Free Funds Flow: $550 million Net Debt: Maintained under $1 billion with a 0.3x billion Funds Flow: $1.65 billion ($2.81/share) Debt/EBITDA ratio Dividends & Share Buybacks: Base dividend of $0.73/share
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