PRODUCTION 79
PRODUCTION: OPERATING COSTS THE STORY
The cost of producing found reserves in western Canada continues climbing year over year and quarter over quarter. Income
trusts, which are in the business of turning developed reserves into cash for shareholders, have seen their production costs climb by
$0.76/boe in the last year. Costs were 11 per cent higher in the third quarter of 2007 compared with the third quarter of 2006. Across
the industry, gas operating costs climbed by $0.23/Mcf year over year, while oil costs climbed by $1.75/bbl. Q
OGQ · Q3 · 2007
QUARTERLY PRODUCTION: TOP 20 JUNIOR PRODUCERS (UNDER 10,000 BOE/D)
OIL/LIQUIDS (BBL/D)
2006 2007 2007 2007
Q4 Q1 Q2 Q3
Anderson 692 750 602 843
Berens 483 499 560 570
Birchcliff 962 843 878 992
Breaker 1472 1683 1806 1993
Celtic 3290 3147 2947 3102
Cordero 119 120 103 94
Crew 1316 1468 1146 1298
Delphi 829 712 884 1001
Endev 883 934 974 1030
Gentry 1447 1435 1534 1512
Innova 2552 2549 2381 Note1
Iteration 343 376 358 425
Kereco 4376 4216 4617 4295
Peerless 1432 1434 1632 1655
ProEx 495 630 653 663
ProspEx 460 373 723 430
Storm 530 769 731 601
TriStar 2779 3016 3371 6268
Tusk n/a 1581 1730 1806
Vero 559 893 802 870
Notes: 1. Sold to CP Trust.
NATURAL GAS (MCF/D)
2006 2007 2007 2007
Q4 Q1 Q2 Q3
21075 22162 22928 26860
18440 18705 19919 18288
25853 29434 28998 30134
15205 14746 15881 15073
18001 18975 24938 34871
18200 20100 21300 22400
29464 32407 45128 47820
24919 21658 26967 28196
19528 20411 18158 17202
17331 13069 14217 16280
7100 7200 7956 Note1
29216 32846 35719 35272
22406 25292 29396 26364
5901 6702 9749 9697
33505 36631 49530 48082
16222 16157 21108 21743
28271 30048 29891 30104
6841 6632 9419 23112
n/a 11413 14115 15652
15247 21221 20930 23975
TOTAL (BOE/D 6:1)
2006 2007 2007 2007
Q4 Q1 Q2 Q3
4205 4444 4423 5320
3556 3617 3880 3618
5271 5829 5712 6014
4006 4141 4453 4506
6296 6310 7013 8914
3150 3467 3650 3819
6227 6869 8967 9268
4982 4322 5379 5700
4138 4337 4000 3896
4335 3613 3904 4226
3738 3747 3707 Note1
5212 5851 6311 6304
8111 8431 9517 8689
2415 2551 3257 3271
6080 6735 8909 8677
3164 3166 4241 4254
5442 5776 5713 5618
3919 4121 4941 10210
n/a 3433 4083 4415
3301 4430 4290 4865
OPERATING COSTS ($/BOE)
2006 2007 2007 2007
Q4 Q1 Q2 Q3
10. 30 12. 23 10. 97 11. 83
8. 88 8. 12 6. 87 8.06
9. 94 9.02 8. 64 9. 55
9. 19 10.07 9. 91 11. 77
13. 38 11. 72 10. 73 11. 55
3. 78 4. 14 4. 38 4. 39
5. 92 6.06 6. 16 6. 29
8. 42 9. 87 9. 80 8. 30
9. 11 8. 27 8.05 10. 69
n/a 12. 17 12. 17 14. 22
n/a 7. 31 7. 31 Note1
9. 23 7. 94 8. 55 6. 53
n/a 11. 11 11. 44 9. 87
9. 77 9. 91 8. 15 8. 21
n/a 4. 80 5. 35 5.09
7. 39 7. 38 7. 86 8. 42
6. 80 7.04 7. 62 6.79
10. 30 11. 81 10. 57 10. 41
n/a 10. 74 8. 25 9. 27
6. 70 6. 30 5. 87 6. 15
QUARTERLY PRODUCTION: INTERMEDIATE PRODUCERS (OVER 10,000 BOE/D)
Compton
Cyries
Duvernay
Highpine
Galleon
NuVista
Paramount
Rider
OIL/LIQUIDS (MBBL/D)
2006 2007 2007 2007
Q4 Q1 Q2 Q3
8. 6 8. 7 7.2 7. 9
2.1 2.5 3. 4 3. 3
2.1 2.3 2.7 2.2
8. 7 10. 8 11.0 10.1
4. 7 5. 3 5. 8 5. 6
2.3 2.4 2.5 2.8
3. 9 3. 6 3. 6 4.0
1.9 1.7 2.3 2.6
NATURAL GAS (MMCF/D)
2006 2007 2007 2007
Q4 Q1 Q2 Q3
148.0 148.0 130.0 135.0
39.1 42. 3 43.0 37. 8
96. 6 112 109.0 107.0
30.2 39. 7 41. 5 34. 6
36. 7 38.1 45. 3 49.0
61. 9 66.2 69. 9 64. 9
79.0 84. 8 89. 5 73. 5
40. 3 40. 4 52. 3 52. 8
TOTAL (MBOE/D 6:1)
2006 2007 2007 2007
Q4 Q1 Q3 Q3
33.2 33. 3 28. 6 30. 4
8. 6 9. 5 10. 6 9. 6
18.2 20.1 20.1 20.0
13. 7 17. 4 17. 9 15. 9
10. 9 11. 9 13. 4 13. 7
12. 6 13. 4 14.1 13. 6
17.1 17. 8 18. 5 16.2
8. 6 8. 4 11. 5 11. 4
OPERATING COSTS ($/BOE)
2006 2007 2007 2007
Q4 Q1 Q2 Q3
n/a 8. 68 8. 92 8. 72
9.00 10.03 9. 95 9. 21
5. 67 5. 58 5. 85 5. 96
10. 42 9. 19 10. 16 9. 76
9. 65 8. 86 8. 63 8. 35
7.09 7. 64 7.05 7. 15
10. 22 14. 14 12. 13 12. 51
