Graphic provided by BlincSoftware. Data from Saskatchewan Ministry of Energy and Resources

Saskatchewan oil production remains relatively flat at 453,817 bpd

Who are the top dogs of Saskatchewan oil producers for 2022?

BlincSoftware put together this graphic from data provided by the Saskatchewan Ministry of Energy and Resources. Much more detailed information can be found at BlincSoftware’s Canadian Petroleum Registry.

Total oil production is up 2.2 per cent year over year, at 26,335,169 m3 for 2022 vs. 25,764,589 m3.

That resulted in total oil production averaging 453,817 barrels per day (bpd). This is well within the range Saskatchewan oil production has fallen in over the last 20 years, fluctuating between 425,000 and 525,000 bpd, with most of the time around the 450,000 bpd mark. As oil production naturally declines continuously, maintaining an essentially flat production number for two decades is notable.

As for the top three oil producers, Cenovus Energy Inc. Whitecap Resources, and Crescent Point Energy Corp made that top trio, by a wide margin. (Note: this data does not include gas production.)  Their average oil production in Saskatchewan per day came to 109,935 bpd for Cenovus, 64,625 bpd for Whitecap, and 60,638 for Crescent Point.

This is a noticeable shift as Crescent Point has been selling off production for several years, and Whitecap has been buying.

Also, Serafina Energy was purchased by Strathcona Resources in a deal that closed Aug. 29, 2022.

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Geographically, Cenovus is concentrated in northwest Saskatchewan, having purchased Husky Energy in recent years. Whitecap is principally in southeast and southwest Saskatchewan. Crescent Point is in southeast and southwest Saskatchewan, having recently sold its west central production. Teine Energy is the mover and shaker in west central Saskatchewan. Serafina was focused in the Meota area north of the Battlefords, but Strathcona, which bought it out, also has a broader range of property in west central Saskatchewan. Baytex Energy is located in northwest and west central. Canadian Natural Resource is principally in the northwest, but also has operations in the southeast. IPC Energy is in northwest Saskatchewan at Onion Lake. And Vermillion Energy principally works in the southeast.

 

Producer Total Oil m3/year Avg bpd
1 CENOVUS ENERGY INC. 6,379,566.70 109,935
2 WHITECAP RESOURCES INC. 3,750,219.30 64,625
3 CRESCENT POINT ENERGY CORP. 3,518,862.60 60,638
4 TEINE ENERGY LTD. 1,797,520.60 30,976
5 STRATHCONA RESOURCES LTD. 1,688,713.30 29,101
6 SERAFINA ENERGY LTD. 1,321,844.50 22,778
7 BAYTEX ENERGY LTD. 1,183,238.60 20,390
8 CANADIAN NATURAL RESOURCES 896,606.80 15,451
9 IPC CANADA LTD. 787,502.80 13,571
10 VERMILION ENERGY INC. 683,419.20 11,777

Those top 10 producers make up the lion’s share of Saskatchewan oil production, a total of 84 per cent.

  • Total SK oil production¬† = 26,335,169 m3
  • Total Top 10 Companies Oil Production = 22,007,494 m3

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