Advantage Energy Ltd. is a Canadian

oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) and lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturate ...

and

gas Gas is a state of matter that has neither a fixed volume nor a fixed shape and is a compressible fluid. A ''pure gas'' is made up of individual atoms (e.g. a noble gas like neon) or molecules of either a single type of atom ( elements such as ...

company based in

Calgary, Alberta Calgary () is a major city in the Provinces and territories of Canada, Canadian province of Alberta. As of 2021, the city proper had a population of 1,306,784 and a Metropolitan area, metropolitan population of 1,481,806 making it the List of ...

. The company is focused on the development of its

Montney Montney is an unincorporated locality located in British Columbia about north of Fort St. John, near Beatton Provincial Park. It lies at an elevation of , along the BC Rail tracks. The settlement gives the name to the Montney Formation, a ...

fossil gas and liquids

resource play Unconventional (oil and gas) reservoirs, or unconventional resources (resource plays) are accumulations where oil and gas phases are tightly bound to the rock fabric by strong capillary forces, requiring specialized measures for evaluation and ...

to provide Canadian energy. In 2019, it produced 45,833

barrels of oil equivalent The barrel of oil equivalent (BOE) is a unit of energy based on the approximate energy released by burning one barrel (, or about ) of crude oil. The BOE is used by oil and gas companies in their financial statements as a way of combining oil an ...

per day, with 94% of production consisting of natural gas and 6% light oil and liquids with a low

emission intensity Emission may refer to: Chemical products * Emission of air pollutants, notably: ** Flue gas, gas exiting to the atmosphere via a flue ** Exhaust gas, flue gas generated by fuel combustion ** Emission of greenhouse gases, which absorb and emit ...

of 4 kg CO2e/boe. It is listed on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; ) is a stock exchange located in Toronto, Ontario, Canada. It is the List of stock exchanges, 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in th ...

under the symbol .

Operations

Advantage's Montney assets are located from approximately 4 km to 80 km northwest of the city of Grande Prairie, Alberta. Land holdings consist of 210 net sections (134,400 net acres) of liquids rich Montney lands at Glacier, Vahalla, Progress, and Pipestone/Wembley. Since 2008, production has grown to approximately 275 mmcfe/d (45,833 boe/d) and 2P reserves had increased to 2.8 Tcfe (466 million Boe) at December 31, 2019. Management estimates a future drilling inventory of >1,400 horizontal well locations. Total estimated capital expenditures over the life of the project could exceed $10 billion with associated reserves and production growth. Future investment will target the highest return and short payout investments in natural gas or liquids to fill the company's existing owned surplus capacity through balancing free cash generation, debt reduction and modest growth.

Notes

External links

* {{DEFAULTSORT:Advantage Energy Companies formerly listed on the New York Stock Exchange Companies listed on the Toronto Stock Exchange Companies based in Calgary Non-renewable resource companies established in 2001 Oil companies of Canada Natural gas companies of Canada