High Quality Light Oil, Prolific Gas Foundation, Significant Well Location Inventory, Clean Sustainable Energy, 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 228 net sections (145,920 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 300 mmcfe/d (50,000 boe/d) and 2P reserves have increased to 3.2 Tcfe (532 million Boe) at December 31, 2020. 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.
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