Our Northwest Alberta / British Columbia “NW AB/BC” Business Unit is comprised of three key areas: Boundary Lake, the Deep Basin and Valhalla.
Boundary Lake is located primarily in northeast British Columbia on the Alberta/British Columbia border, just east of Fort St. John, and is characterized by low base declines, low sustaining capital and a predictable production base within an active waterflood. The key characteristics of this legacy oil pool are high operated working interest, and light 35° API oil. Asset enhancement is on-going with waterflood optimization initiatives and the optimal implementation of horizontal wells. Development and completion design reviews are continually ongoing to further unlock additional resource value.
Our Deep Basin properties, which include Wapiti, Karr, Simonette, Kakwa and Elmworth are located southwest of Grande Prairie, Alberta. The primary reservoirs being developed are the Dunvegan, Cardium, and the Montney resource play, all of which are light sweet (39° - 42° API) oil. These reservoirs are characterized by thick oil columns with significant oil in place. This area is being developed with horizontal multi-fracture wells, including extended reach horizontals that exhibit a lower decline profile than in many areas due to the significant oil in place. Our Deep Basin assets are well suited for organic growth.
Valhalla is Whitecap's original asset area. It is underpinned by the conventional Montney light oil waterflood pool that continues to outperform our original reserves estimates. In addition, we are actively exploiting Valhalla’s ideally situated infrastructure by expanding our presence in the area through the Charlie Lake and Montney oil resource plays.