Clearwater Basin, Canada -- January 10, 2022

Updates

April 30, 2022: update; twitter excited.

Original Post

Methinks the social media excitement with regard to this story might be a bit overdone. 

Clearwater formation, wiki entry. 

December 15, 2021: Tamarack Valley Energy, Ltd -- acquires Crestwynd Exploration Ltd.; press release.

• $185 million
• 4,500 boepd
• = $40,000 / flowing boepd
• deal

• Forecast 2022 production of ~4,500 boe/d⁽²⁾ is expected to deliver $90 million of operating netback
• Low annual sustaining capital of $30 to $35 million required to hold production levels flat on the acquired assets⁽³⁾
• 209 (153.7 net) future drilling locations⁽⁴⁾, across only 50% of the 99,360 net acres acquired which supports maintaining current production levels for seven years
• Additional unbooked future exploration upside potential across the balance of the acquired acreage
• Consolidates Tamarack's existing Southern Clearwater working interest to 95% and solidifies its dominant position as the largest operator in the area
  

September 1, 2021: Baytex provides updates to 2021 Clearwater appraisal program.

February 11, 2021: "the shine is back on the Clearwater."

***************************************
Social Media Excitement, January 10, 2022

From the slides below:

• Link here. 
• Link here.
• Link here.
• Link here. Link here. Slide 16. 
• Headwater Exploration (HWX – TSX) is in the core of the play.  They have a land package in the area of the Marten Hills.  They purchased the land from Cenovus Energy (CVE – TSX) last year.
  

****************************

I think there's a reason most of us have not heard of the Clearwater Basin.