Our West Central Alberta “WC AB” Business Unit represents the bulk of our Cardium assets, which are primarily focused in Pembina, Garrington, Ferrier and Willesden Green. The key characteristics of the Cardium in these areas are light 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 the Cardium which results in predictable declines and production profiles. Several of these legacy 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. Further value creation is being generated through drilling and completions enhancements including the use of High Intensity Frac’s “HIF” in certain applications as well as exploring implementation of tertiary recovery methods to further enhance oil recovery from the existing surface footprint.

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