Our East Division is comprised of four Regions: Central AB, West Sask, East Sask and Weyburn
Our Central Alberta region represents the bulk of our Cardium and liquids-rich Mannville assets, which are primarily focused in Pembina, Ferrier and Garrington. The key characteristics of these formations are light sweet ~40° API oil with geology and oil resource mapping that is well defined with legacy vertical wells. There is no significant mobile formation water in either formation which results in predictable declines and production profiles. Several of the legacy Cardium pools are under active waterflood which reduces pool declines and increases the percentage of recoverable oil in place. Performance of these waterfloods has been improving with optimization efforts. These assets provide sizeable cashflow generation with the optionality to transition to a growth model.
In addition to these core horizons, further value creation is being generated through tertiary recovery (CO2 flood) in the Viking horizon in Joffre. Whitecap is using its world-class expertise in CO2 EOR and sequestration to maximize value in this pool and continue to drive down our GHG emissions intensity.
Our West Sask region is comprised of our Viking resource light oil play and Southwest Saskatchewan medium oil play.
Focus areas targeting the Viking are Kerrobert, Plenty, Dodsland, Lucky Hills, Whiteside, and Elrose. The key characteristics of this play are high netback 38° – 40° API light oil, large inventory, predictable geology and production profiles, as well as consistent and repeatable economics. Lucky Hills, Whiteside, Plenty, Elrose and Kerrobert West are characterized by horizontal primary oil development wells with quick payouts and a high operating netback. The Dodsland and Kerrobert East properties are characterized by low decline waterflood supported production from legacy vertical and horizontal infill wells. The Viking oil play provides some of the fastest project payouts in the industry. With high confidence production results and no facility or marketing constraints, this area provides flexible opportunities for growth.
Our Southwest Saskatchewan assets are concentrated west of Swift Current, Saskatchewan and are characterized by predictable low base decline and medium crude oil (18 - 26° API) production. This asset was incorporated into the Whitecap portfolio opportunistically as an acquisition in 2016 and continues to generate significant free funds flow. Multiple active waterfloods, as well as three established alkaline, surfactant, and polymer "ASP" floods, are sustaining the area with 92% of production coming from enhanced recovery. Additional waterflood and ASP potential exists and will be part of our ongoing enhanced oil recovery "EOR" development programs. The primary formations being targeted in the area are the Atlas, Success, Roseray, and Shaunavon. New areas and pools within the existing land base are continually being pursued. These properties had not seen significant development prior to Whitecap, and we combine horizontal wells, multi-stage frac technology, and conventional production and EOR optimization efforts to maximize production and oil recovery from these pools.
Our East Sask region is underpinned by the premier Frobisher Conventional Mississippian light oil play characterized by stacked flow units, 30o – 40o API oil and wells with high deliverability and oil recovery supported by an active regional aquifer. Whitecaps Frobisher focus area consists of a consolidated land base, established oil and gas conservation infrastructure, and significant high quality inventory that generates high netbacks and significant free cash flow. Evolving opportunities include multi-legged horizontal drilling, well re-entry techniques, multi-well pads and organic inventory expansion initiatives. Whitecaps SESK region is further complimented by opportunities in the Alida (conventional) and Midale (unconventional) formations which benefit from established infrastructure and efficiencies associated with on-going development in the region.
The “Weyburn” property is located south of Weyburn, Saskatchewan. The Weyburn property is the largest Carbon Capture & Utilization Storage “CCUS” project in the world which underpins why Whitecap has one of the lowest emissions intensities in the world along with our commitment to continue to emphasize environmental sustainability as a core value. This internationally recognized, world class project has safely captured over 40 million tonnes of CO2. Since 2019, we have stored 2.0 million tonnes of CO2 per year. The primary reservoirs being developed are the Midale and Frobisher. Whitecap has a 65.3% operated working interest in the Weyburn Unit which produces primarily light oil. The Weyburn Unit has been in existence since the 1950’s when it was discovered. Waterflood operations commenced in the 1960’s with a world class CO2 enhanced oil recovery "EOR" development commencing in 2000. Significant expansion opportunities remain to expand the Weyburn CO2 flood and further mitigate a low 3-5% base decline rate in conjunction with a very low maintenance capital requirement.
Whitecap's world class expertise in CO2 EOR and sequestration provides the foundation to continue to drive down Whitecap's GHG emissions intensity.