Bellatrix has established a large concentrated land base in west central Alberta, Canada. The area provides exposure to the highly economic stacked hydrocarbon bearing reservoirs from Belly River to Base Jurassic.
Bellatrix’s experienced technical team has dramatically driven down the costs of finding new oil and gas reserves while optimizing well productivity. The Company has harnessed the latest horizontal drilling and multiple stage completion technology; applying this technology to conventional reservoirs resulting in a much higher productivity and significantly enhancing ultimate well recoveries.
Bellatrix maintains a top tier acreage position, with decades of development drilling opportunities in a proven area of the Canadian Deep Basin. Bellatrix has established a large concentrated land base in west central Alberta, Canada. The concentrated, multi-zone acreage, allows for multi-well pad drilling. Multi-well pads permit subsequent formation development given the ability to utilize existing lease pads, roads, pipelines and infrastructure, which results in a reduced cost to drill and reduced environmental footprint.
The Company maintains a large inventory of high impact liquids rich natural gas drilling locations in the Spirit River formation as well as oil and liquids weighted opportunities in the Cardium formation that provide a balanced opportunity set of investment opportunities. Bellatrix’s strategy is to control regional facilities and infrastructure in our core areas providing low cost operations and availability of processing capacity for future growth.
The Spirit River liquids rich natural gas play represents one of North America’s lowest supply cost natural gas plays for several reasons. The Spirit River is relatively shallow compared to other top natural gas plays resulting in lower drilling costs. The Spirit River formation is a conventional sandstone which requires less intensive and less expensive fracture stimulation treatments. The formation produces sweet liquids rich natural gas and generally no water which contributes to low processing costs and enhanced profitability. In 2016, the Spirit River accounted for approximately half of all western Canada total natural gas volumes from new wells drilled during the year. Spirit River well results continue to rank among the best in Alberta on a consistent basis.
Bellatrix has proven itself as a premier operator within the Spirit River play, consistently delivering industry leading well productivity results. Since 2009 Bellatrix has drilled over 120 Spirit River horizontal wells with zero dry holes.
The Cardium resource play is the largest accumulation of light oil in the Western Canadian Sedimentary Basin developed to date spanning approximately 20,000 square miles with over 1.9 billion barrels produced to date. The Cardium remains a key focus formation for Bellatrix long term as it provides light oil exposure with material optionality to improving oil prices.
Please review Bellatrix's most recent corporate presentation for more information.