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Our Operations
Deep in the Montney Formation of Northern Alberta, Advantage is uniquely positioned to generate shareholder wealth. Click on each location to discover more.
GLACIER
PROGRESS
VALHALLA
WEMBLEY
At Glacier Advantage holds 100 sections of contiguous Doig/Montney rights. The property is located adjacent to the provincial boundary between Alberta and British Columbia and is between the cities of Grande Prairie, Alberta and Dawson Creek, British Columbia.
The total thickness of the Montney at Glacier is approximately 300 metres and lends itself to multiple layers of development which contributes to an inventory of >750 future well locations within this resource play. Since the spud of the first horizontal well in July 2008, Advantage has drilled & completed approximately 231 horizontal wells and built a significant amount of infrastructure including our 400mmcf/d gas plant.
At Progress, Advantage holds approximately 55 sections of contiguous Doig/Montney rights with multiple layers of development potential. Advantage has advanced the development of the property significantly over the last couple years with production from the property beginning in Q1 2020. The start of production from the land block represents another milestone in demonstrating high-quality resources with attractive economics on each of Advantage's land blocks.
The Progress asset is now a significant element of the Corporation's gas and liquids development program along with Glacier, Valhalla and Pipestone/Wembley.
At Valhalla Advantage holds 40 sections of contiguous Doig/Montney rights with multiple layers of development potential. In 2019 we commissioned a liquids handling hub that includes 40 mmcf/d of compression and 2,000 bbls/d of liquids handling to collect and transport natural gas and liquids for processing at our Glacier gas plant. The facility is expandable to accommodate future liquids rich production growth.
To date we have drilled 14 Doig/Montney wells on the property across 3 different layers. Industry drilling on and adjacent to our lands have targeted multiple Montney layers with results demonstrating liquids-rich gas accumulations in all layers to date.
At Pipestone/Wembley Advantage holds 33 sections of contiguous Montney rights where drilling on and adjacent to our lands have targeted multiple Montney layers with results demonstrating liquids-rich gas accumulations in all layers to date.
The property has transitioned from our first well being completed in Q1 2018 to production from 8 wells connected to a 100% owned significant gas and liquids handling hub. Construction and commissioning of our 36 mmcf/d compressor and 5,000 bbl/d oil battery and liquids hub was completed in April 2020.
High Quality Light Oil, Prolific Gas Foundation, Significant Well Location Inventory, Low-Cost Owned Infrastructure & Capital Efficiencies
Advantage is focused on development and delineation of its world class Montney natural gas and liquids resource at Glacier, Wembley/Pipestone, Valhalla and Progress, Alberta. Across these properties, Advantage holds a total of 224 net sections (143,360 net acres) of Doig/Montney rights. All the areas have potential for liquids-rich and multi-layer development. Since 2008, production has grown to approximately 390 mmcfe/d (65,000 boe/d) and 2P reserves have increased to 3.7 Tcfe (609 million Boe) at December 31, 2023. Upper, Middle & Lower Montney wells generate strong half-cycle rates of return at $2.50/mcf Cdn AECO prices and $55 US/bbl WTI pricing, and have low break-even prices. Future investment will target our highest rate of return projects.
Please view our drilling inventory disclaimer here.
Current Production
- 390 mmcfe/d (65,000 Boe/d)
- 89% natural gas
- 11% light oil & NGLs
- P+P Reserves Life Index: ~24 years