Bonterra Energy Corp T.BNE

the market is starting to wake up to the BNE Montney asset

[Flush11]

Looking at some of the land position I was surprised by how close they are to Ovintiv's very productive condensate rich wells. Looks like they assembled  a nice property right under the nose of the biggest Montney players.

Looking forward to the fall test well to see if our land is worth anything close to the 2.1 to 5.1  million per section Montney land (South of , not North of Grand Prairie) sold for at the last land auction. LOL.

If nothing else it is an asset to sell, develop a new core area and/or provide optionality on drilling gas/condy wells instead of gas/oil wells.

Rex


https://boereport.com/2023/08/28/montney-crown-land-sales-south-of-grande-prairie-go-for-up-to-5-1-million-section-in-august-boe-intel/

[kavern23]

I think it is a postive move for BNE to go to Montney...but what does that state for the health of the cardium?  BNE was largest driller in Pembina Cardium by far....

[TheRexmember]

Long time no hear Kavern! Two different issues regarding the Cardium land vs Montney.. But the end point is probably the same. They can harvest a lot of free cash out of the Cardium but it will be far easier to grow in the Montney. The economics are great with the condensate rich wells. You have mentioned drilling locations before Kavern it's easier to maintain 28-32 wells per year than 40 for

[kavern23]

The Cardium versus the Montney are different in the aspect BNE has ability to vary capital spend in Cardium. The reality is the high drillling Cardium companies over the last 3 years are having to step out further and further from their sweet spots or they try find a new one like YGR. Obsidian for example just started in cardium again after quite a long break and results of the well will be fairly

[TheRexmember]

Its a crowded area for sure. Lots of facilities though so pretty easy to tie in a well. Entrada is now using the same monobore drilling style BNE does. Its cheap and effective. Big well costs in the Montney. Pad drilling will be a must with success. Sounds like the middle Montney is the target in this area.

[TheRexmember]

EIA confirms a 10 million barrel draw.  interesting days ahead.