Northern Alberta and British Columbia Business Unit

Our Northern Alberta and British Columbia Business Unit “NABC” is comprised of two Regions; Smoky River and Peace River:

Smoky River

The properties in our Smoky River Region include Wapiti, Karr, Simonette, Kakwa and Elmworth all located southwest of Grande Prairie, Alberta. The primary reservoirs being developed are the Dunvegan, Cardium, and 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 utilizes pad-based horizontal drilling and multi-stage fracturing, including extended reach horizontals that exhibit a lower decline profile than in many areas due to the significant oil in place. The Region is comprised of large-scale opportunities and significant inventory setting up Smoky River to provide material future organic growth.

Peace River

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. 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.

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