| | | | | | | | | |
| | | Development Wells | | Exploratory Wells | ||||
| Category of Well | Gross | Net | Gross | Net | ||||
| Crude oil wells | 141 | | 64.7 | | - | | - | |
| Natural gas wells | 57 | | 1.2 | | - | | - | |
| Service wells | - | | - | | - | | - | |
| Dry and abandoned wells | - | | - | | - | | - | |
| Total | 198 | | 65.9 | | - | | - | |
| | | | | | | | | | | | | | | | |
| | | Year Ended December 31, 2023 | |||||||||||||
| | | First | | Second | | Third | | Fourth | | | |||||
| Natural Gas Liquids (US$ per bbl) | Quarter | Quarter | Quarter | Quarter | Annual | ||||||||||
| Sales price(1) | | $ | 20.94 | | $ | 15.67 | | $ | 19.52 | | $ | 17.29 | | $ | 18.26 |
| Transportation | | | (0.45) | | | (0.37) | | | (0.33) | | | (0.33) | | | (0.36) |
| Royalties(2) | | | (4.37) | | | (3.22) | | | (4.03) | | | (3.59) | | | (3.78) |
| Production costs(3) | | | - | | | — | | | — | | | — | | | — |
| Netback | | $ | 16.12 | | $ | 12.08 | | $ | 15.16 | | $ | 13.37 | | $ | 14.12 |
| | | | | | | | | |
| | | | | | | | | |
| | | CRUDE OIL | | NATURAL GAS | | | | |
| | | | | | ||||
| | | | | U.S. Henry | | | | |
| | | | | Hub | | Inflation | | Exchange |
| Year | | WTI(1) | | Gas Price | | Rate | | Rate |
| | ($US/bbl) | ($US/MMbtu) | (%/year) | ($US/$Cdn) | ||||
| 2024 | | 73.67 | | 2.75 | | 0.0 | | 0.752 |
| 2025 | | 74.98 | | 3.64 | | 2.0 | | 0.752 |
| 2026 | | 76.14 | | 4.02 | | 2.0 | | 0.755 |
| 2027 | | 77.66 | | 4.10 | | 2.0 | | 0.755 |
| 2028 | | 79.22 | | 4.18 | | 2.0 | | 0.755 |
| 2029 | | 80.80 | | 4.27 | | 2.0 | | 0.755 |
| 2030 | | 82.42 | | 4.35 | | 2.0 | | 0.755 |
| 2031 | | 84.06 | | 4.44 | | 2.0 | | 0.755 |
| 2032 | | 85.74 | | 4.53 | | 2.0 | | 0.755 |
| 2033 | | 87.46 | | 4.62 | | 2.0 | | 0.755 |
| 2034 | | 89.21 | | 4.71 | | 2.0 | | 0.755 |
| 2035 | | 90.99 | | 4.81 | | 2.0 | | 0.755 |
| 2036 | | 92.81 | | 4.90 | | 2.0 | | 0.755 |
| 2037 | | 94.67 | | 5.00 | | 2.0 | | 0.755 |
| 2038 | | 96.56 | | 5.10 | | 2.0 | | 0.755 |
| Thereafter | | (2) | | (2) | | 2.0 | | 0.755 |
| | | | | | | | | | | | | |
| | | Tight Oil (NET) | | Natural Gas Liquids (NET) | ||||||||
| | | | Proved | | | Proved | ||||||
| | | | | | | Plus | | | | | | Plus |
| Factors | | Proved | | Probable | | Probable | | Proved | | Probable | | Probable |
| | (Mbbls) | (Mbbls) | (Mbbls) | (Mbbls) | (Mbbls) | (Mbbls) | ||||||
| December 31, 2022 | 144,684 | | 109,661 | | 254,345 | | 26,179 | | 19,036 | | 45,215 | |
| Acquisitions | - | | - | | - | | - | | - | | - | |
| Dispositions | (965) | | (215) | | (1,180) | | (121) | | (38) | | (159) | |
| Discoveries | - | | - | | - | | - | | - | | - | |
| Extensions and Improved Recovery | 25,767 | | 8,071 | | 33,838 | | 3,882 | | 366 | | 4,248 | |
| Economic Factors | (167) | | (24) | | (192) | | (74) | | (16) | | (90) | |
| Technical Revisions | (8,529) | | (10,812) | | (19,341) | | 1,998 | | 335 | | 2,334 | |
| Production | (18,532) | | - | | (18,532) | | (4,170) | | - | | (4,170) | |
| December 31, 2023 | 142,258 | | 106,680 | | 248,938 | | 27,695 | | 19,684 | | 47,379 | |
| | | | | | | | | | | | | | | | | | | ||
| | | | | ||||||||||||||||
| PROJECT MATURITY SUB-CLASS | | Tight Oil | | | Natural Gas Liquids | | Shale Gas | | Total | ||||||||||
| | Gross | Net | Gross | | Net | Gross | Net | Gross | Net | ||||||||||
| | (Mbbls) | (Mbbls) | (Mbbls) | | (Mbbls) | (MMcf) | (MMcf) | (MBOE) | (MBOE) | ||||||||||
| Development Pending | 43,871 | | 35,239 | | 4,510 | | | 3,635 | | 538,973 | | 432,562 | | 138,210 | | 110,967 | |||
