We are an independent oil and natural gas company engaged in the exploration for, and the development, production and acquisition of oil and natural gas reserves in the province of Alberta. Our primary focus is on the scalable and repeatable condensate-rich Montney formation in the Alberta Deep Basin (Wapiti Montney).
NuVista’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin. This play has the potential to create significant shareholder value due to the high-value condensate volumes associated with the natural gas production and the large scope of this resource play.
Our near term focus remains on delivering immediate results in a disciplined manner while advancing our Wapiti Montney condensate-rich natural gas resource play.
As a key driver of our returns focused sustainable growth strategy, our commitment to sustainability and ESG principles is evident across the entire organization.
We are an independent oil and natural gas company engaged in the exploration for, and the development, production and acquisition of oil and natural gas reserves in the province of Alberta. Our primary focus is on the scalable and repeatable condensate-rich Montney formation in the Alberta Deep Basin (Wapiti Montney).
NuVista’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin. This play has the potential to create significant shareholder value due to the high-value condensate volumes associated with the natural gas production and the large scope of this resource play.
Our near term focus remains on delivering immediate results in a disciplined manner while advancing our Wapiti Montney condensate-rich natural gas resource play.
As a key driver of our returns focused sustainable growth strategy, our commitment to sustainability and ESG principles is evident across the entire organization.
Production in the non-core area of Wembley, which is in the greater Wapiti-Montney area, was 2,241 Boe/d in 2019 which included 179 Bbls/d of condensate, 351 Bbls/d of NGLs (excluding condensate), 431 Bbls/d of light and medium oil, and 7,682 Mcf/d of conventional natural gas.
We also have non-core operations in three additional areas of Alberta (non-core properties outside of the greater Wapiti- Montney area) whose combined production in 2019 averaged 99 Boe/d compared to 430 Boe/d in 2018 due to asset divestitures and production decline. Substantially all of the 2019 average non-core production is comprised of conventional natural gas. These operating regions combined gross acreage in 2019 is 330,025 gross acres (249,868 net acres). We are not anticipating spending any development capital in 2020 and did not drill any wells in these regions in the last three years.
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