Crescent Point's operations consist of light and medium oil and natural gas assets strategically focused in core areas in southern Saskatchewan and central and southern Alberta.
We use an integrated approach of acquisitions, exploitation and development to grow our high-quality, light and medium oil and natural gas reserves.
Our focused acquisitions approach has resulted in few changes to the company's core area map, despite having grown from 275 boe/d in 2001 to an expected 2010 exit rate of more than 69,500 boe/d.
Each property on our map is characterized by large oil-in-place or gas-in-place pools. Our focus on these properties provides economies of scale, leading to reduced operating costs, efficient operations and cost-effective capital development programs.
Please click on each property for more information
Battrum, SK
The Battrum property is a medium gravity crude oil pool with 352 million barrels of original oil in place(1) (OOIP). Crescent Point operates the property, with an average 45 percent working interest across three units. During 2009, Crescent Point continued to optimize production and reserves in the area through water flood optimization, infill drilling and re-completions.
Since acquiring the property in early 2006, the company has increased proved plus probable reserves by 138 percent to a total of 13.2 mmboe at year end 2009.
Also during 2009, Crescent Point achieved record production levels at Battrum of more than 2,250 boe/d.
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Cantuar, SK
The Cantuar property is a medium gravity crude oil pool with 489 million barrels of OOIP(1). Crescent Point holds a 55 percent working interest in the non-operated property. During 2009, Crescent Point continued to optimize production and reserves in the area through water flood optimization, infill drilling and re-completions.
Since 2006, the company has increased proved plus probable reserves at Cantuar by 74 percent to a total of 17.1 mmboe at year end 2009.
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Dodsland/Plato, SK
With the acquisitions of Wave Energy Ltd. and TriAxon Resources Ltd. in late 2009, we acquired a significant land position in the emerging Viking light oil resource play in the Plato and Dodsland areas of western Saskatchewan. The Viking play is a tight rock formation that benefits from multi-stage fracture stimulation technologies.
We currently have more than 95 net sections of land in the Plato and Dodsland areas. In 2010, we expect to further delineate this play, quantify potential upside and increase production from the area, with plans to drill up to 20 (16 net) wells.
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John Lake, AB
The John Lake property is a large natural gas multi-zone region with 180 bcf of original gas in place. Crescent Point operates the property, with an average 82 percent working interest.
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Lower Shaunavon, SK
The Lower Shaunavon medium oil resource play in southwest Saskatchewan has become one of Crescent Point's key operating areas. With more than 4 billion barrels of OOIP(1), the pool is one of the largest oil pools ever discovered in western Canada.
Through a series of acquisitions, including one in early 2010, and Crown land sales, Crescent Point increased its land holdings in the Lower Shaunavon to more than 450 net sections. At year end 2009, Crescent Point had a low-risk inventory of more than 1,250 locations at a drilling density of eight wells per section and production of more than 7,000 boe/d, which represented approximately 83 percent of total production in the play based on public data available at the end of 2009.
By year end 2009 and including the early 2010 acquisition, Crescent Point had booked Lower Shaunavon proved plus probable reserves of 60.1 mmboe, including 6.8 mmboe due to technical and development reserve additions. These bookings represent a recovery factor of 2.3 percent.
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Manor, SK
The Manor property is a large light oil property with 147 million barrels of OOIP(1). Crescent Point operates the property, with a 100 percent working interest.
Crescent Point acquired Manor, one of the company's original core properties, in 2002. At the time, Manor was producing approximately 575 boe/d. Through a series of strategic acquisitions and infill drilling, as well as the discovery of two new pools, Crescent Point has grown production significantly, reaching more than 2,350 boe/d at year end 2009.
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Sounding Lake, AB
Sounding Lake is a large oil-in-place pool comprised of medium gravity oil and associated natural gas, and it is Crescent Point's original core property. OOIP(1) is 58 million barrels and approximately 27.9 percent has been recovered to date. Crescent Point operates the property, with a 90 percent working interest.
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Tatagwa, SK
The Tatagwa property is a medium gravity oil property with 230 million barrels of OOIP(1), of which only approximately 6.3 percent has been recovered to date. Crescent Point operates the property, with an 80 percent working interest.
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Viewfield Bakken, SK
With more than 4 billion barrels of OOIP(1), the Viewfield Bakken light oil resource play in southeast Saskatchewan continues to be a major source of long-term growth potential for Crescent Point. We continue to aggressively consolidate and develop the play. In 2009, Crescent Point completed six strategic consolidation acquisitions and increased its land holdings to 578 net sections in the play by year end 2009.
At year end 2009, proved plus probable reserves were 119.4 mmboe, up 26 percent over year end 2008. Technical and development reserves additions represented 85 percent of the year-over-year increase.
The company's low-risk Bakken drilling inventory totaled more than 2,750 locations at year end 2009, at a drilling density of eight wells per section, representing nearly 200,000 boe/d of risked production additions. Only 643 of these locations were booked to reserves as of year end 2009.
In 2009, Crescent Point continued to monitor and improve its water flood pilot project in the Viewfield Bakken play. The pilot has shown encouraging results, with increased oil production seen in offsetting producing wells and a significant decrease in decline rates. Based on these results, we initiated a second pilot project in late 2009 and have plans to initiate several more in 2010, each testing different patterns and completion techniques.
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Worsley, AB
The Worsley property is a large oil and natural gas property in northwest Alberta containing 32 million barrels of OOIP(1). Crescent Point operates the property, with a 96 percent working interest.
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1. Original oil in place ('OOIP') is equivalent to Discovered Petroleum Initially-In-Place ('DPIIP'), as defined in the Canadian Oil and Gas Evaluations Handbook. DPIIP is that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production. The recoverable portion of DPIIP includes production, reserves and contingent resources; the remainder is unrecoverable. OOIP/DPIIP estimates are based on current accepted technology and prepared internally by Qualified Reservoir Engineers at Crescent Point.
