Total Production
12,840
BOE/d (MTD avg)
▲ 340 vs May
Realized Price
$72.40
/BOE blended (CAD)
▼ $3.20 vs May
Field Netback
$24.18
/BOE blended
▲ $0.84 vs May
MTD Revenue
$27.9M
Gross (20 days)
▲ 4.2% vs budget
Operating Cost
$18.22
/BOE (LOE + royalty)
▼ $0.42 vs May
Heavy Oil (CW)
7,240
BOE/d · 56% of total
▲ 280
Light Oil (Pembina)
3,180
BOE/d · 25% of total
— flat
Natural Gas
2,420
BOE/d · 19% of total
▼ 60
WCS Differential
−$18.40
vs WTI (USD/bbl)
▼ widened $2.10
Capex Spend MTD
$8.4M
vs $9.2M budget
▼ $0.8M under
Production Trend — BOE/d by Stream
YTD 2026
Blended Netback Waterfall
$/BOE · MTD
Field & Area Summary
MTD JUNE 2026
Clearwater Intelligence — MTD Operations Assessment
AI-generated analysis · Alberta Division · June 2026
AI Analysis
Operations Summary
Alberta Division is tracking 4.2% above revenue budget through June 20, driven by stronger-than-expected Clearwater heavy oil volumes at 7,240 BOE/d — 280 BOE/d above the May exit rate following successful pad tie-ins at Slave Lake South (Pad SLS-08 and SLS-09). The blended field netback of $24.18/BOE improved $0.84 month-on-month despite the WCS differential widening to −$18.40/bbl — offsetting price headwinds through volume and operating cost discipline. Pembina light oil is flat at 3,180 BOE/d and gas volumes are 60 BOE/d below the Deep Basin type curve due to third-party compressor downtime at the Edson gathering system (estimated 8-day impact).
Key Watch Items
1. WCS differential pressure. At −$18.40/bbl, the heavy oil differential is at its widest since Q4 2024. If sustained, the Clearwater netback compresses from the current $23.40/BOE toward $20.80/BOE — an $18.7M annualized earnings impact at current volumes. Pipeline nominations for TMX July cycle are submitted; any allocation reduction increases egress risk.
2. Slave Lake North pad drilling. Pad SLN-14 spud is 6 days behind schedule (surface casing rig release delayed). Current completion forecast holds the June 30 rig release but leaves no schedule contingency for the frac spread. Recommend confirming frac spread availability with STEP Energy before end of week.
3. Opex trending below budget at $18.22/BOE — driven by lower chemical costs at Slave Lake South and deferred facility maintenance to Q3. $1.4M of opex savings YTD provides buffer against differential exposure.
2. Slave Lake North pad drilling. Pad SLN-14 spud is 6 days behind schedule (surface casing rig release delayed). Current completion forecast holds the June 30 rig release but leaves no schedule contingency for the frac spread. Recommend confirming frac spread availability with STEP Energy before end of week.
3. Opex trending below budget at $18.22/BOE — driven by lower chemical costs at Slave Lake South and deferred facility maintenance to Q3. $1.4M of opex savings YTD provides buffer against differential exposure.
This summary is drafted by the AI engine from your connected data — it is not sent or acted on until a member of your finance team reviews and signs off.
Full MTD operations summary — production by stream, netbacks, opex vs budget, capex status, and key watch items. Suitable for weekly ops meetings and CFO review.
Netback analysis by field and pad — price realizations, royalty tiers, LOE breakdown, transport costs, and netback per BOE compared to type curve. Includes WCS differential sensitivity.
Capex vs AFE variance report — YTD spend by category, well cost vs authorization, active program status, schedule risk, and full-year forecast vs board-approved budget.
Operating cost deep dive — LOE by area, chemical injection analysis, workover cost tracking, power and fuel, and opex trend vs budget with driver commentary.
Board-level operational summary — concise production performance, financial metrics, capital program status, key risks, and outlook. Non-technical language, executive framing.
WCS differential impact analysis — current vs budgeted differential, annualized earnings impact by field, egress exposure, hedging position, and sensitivity at −$15, −$18, −$22 scenarios.