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1 week ago | 
boereport.com | Dan Rutherford
Diamondback’s Letter to Stockholders is always a fascinating read. The success of the company has been amazing to watch over the years, from a 3,000 BOE/d producer with a $500 MM valuation in 2012 to a company that just produced 850,700 BOE/d in Q1 with an enterprise value of $USD 52 Billion. As the largest pure play Permian producer, what the company says about trends in the area carries significant weight in the industry.
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1 week ago | 
boereport.com | Dan Rutherford
Over the past 15 years, the Montney has solidified its position as Western Canada’s premier oil and gas play. The widespread adoption of horizontal drilling and multi-stage hydraulic fracturing around 2010 transformed it from a modest resource into a powerhouse, now producing over 2,000,000 boe/d. This output includes more than 10 BCF/d of natural gas volumes, complemented by substantial condensate, NGLs, and oil volumes, making the Montney the backbone of Canada’s ambitious LNG plans.
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2 weeks ago | 
boereport.com | Dan Rutherford
The Alberta Government brought in $11.3 MM on its April 30th Crown land sale. In total, 17,472 hectares were sold at an average price of $647.12/ha. Click here to see the full land sale results on BOE Intel. Of particular note in this land sale were mineral rights north east of Edmonton near Bonnyville. This area shown below in Figure 1 accounted for $4,976,542 of bonus spend, or ~44% of the total bonus from the April 30th land sale.
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3 weeks ago | 
boereport.com | Dan Rutherford
The Alberta Government brought in $12.4 MM on its April 16th Crown land sale. In total, 26,299.57 hectares were sold at an average price of $470.03/ha. Click here to see the full land sale results on BOE Intel. To date in 2025, the Alberta Government has raised $89.3 MM through its Crown Land Sales (Figure 1).
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4 weeks ago | 
boereport.com | Dan Rutherford
Almost 2 years ago, Birchcliff surprised many in industry by announcing a new land position at Elmworth. Testing out some new public data tools at BOE Intel (ask how you can get access here), we took a look at how those mineral rights have changed since that announcement on May 10, 2023. The map below shows a constantly evolving view of the company’s mineral rights position in the area, not uncommon for producers in the complex world of mineral rights tenure.
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1 month ago | 
boereport.com | Dan Rutherford
The Alberta Government brought in $5.1 MM on its April 2nd Crown land sale. In total, 9,456 hectares were sold at an average price of $543.79/ha. Click here to see the full land sale results on BOE Intel. It was a small and rather uneventful sale. The highest dollar bonus was for two small pieces of land west of Rocky Mountain House that each fetched $441,311. The buyer was Yangarra Resources, with both parcels of land comprising of 1 section (256 hectares) of rights.
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1 month ago | 
theicct.org | Dan Rutherford
There’s a famous koan, or philosophical question used in Zen meditation, that asks, “What is the sound of one hand clapping?” An aviation variant of the question is, “What is the boom from a supersonic aircraft that hasn’t been built yet?” It may surprise you to hear that this has real policy implications. In late January, Boom Supersonic flew its XB-1 demonstrator aircraft faster than the speed of sound for the first time and then promptly retired it.
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1 month ago | 
boereport.com | Dan Rutherford
4 Duvernay wells licensed to Chevron Canada came off of Confidential status in March. Of course these wells are soon to be transferred to CNRL as a result of the acquisition announcement last fall, but for now Chevron is the official licensee. While under Confidential status, full production details including (most importantly) pentane volumes are shielded from public view. But now that these wells are no longer confidential, the full results can be seen.
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1 month ago | 
boereport.com | Dan Rutherford
Initial production data is out for February in Alberta. BC and Saskatchewan are yet to report. Alberta has reported oil, condensate, and gas; full Alberta NGL data (including pentane) and marketable gas is due out in a couple weeks. While the February data won’t be considered complete until the rest of the Alberta data has been reported, it is nonetheless worthwhile to show the data as it stands today.
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1 month ago | 
boereport.com | Dan Rutherford
We have put out a couple of pieces over the last 9 months detailing the consolidation of the Montney:In BC, where the top 5 licensees account for 78% of BC Montney volumes. In AB, where the top 5 licensees account for 66% of AB Montney volumes. But what are Montney molecules worth? The table below shows the larger M&A deals since 2022 where substantial Montney volumes were involved as part of the transactions. The average flowing barrel multiple for these transaction has been ~$44,000/BOE/d.
