Clearwater Play

The Clearwater is one of the premier economic oil play types in North America. Development of the play commenced in 2016 and current industry wide production is circa 70,000 barrels of oil per day. The formation is at shallow depth (less than 1000 meters total vertical depth), exhibits conventional reservoir characteristics and has been developed with low-cost open hole multilateral horizontal wells which do not require stimulation.

Through acquisitions, Alberta Crown Lands Sales, joint ventures, farm-in agreements, and partner consolidation, i3 has built its position to 144 gross sections (109 net sections, equivalent to 280 km2) of Clearwater rights in the Dawson, Cadotte, Nipisi, Seal, Harmon, Walrus, Marten Creek and Marten Hills areas. These areas are characterized by multi-zone stacked potential in the Clearwater, Falher and Bluesky formations and contain a number of legacy vertical wells which have attractive oil shows and gas readings throughout these prolific intervals. In growing its position, i3 has prioritized all-season access lands to optimize on-production times and enhance full-cycle economics. In Marten Creek where access is restricted, i3 has negotiated unfettered use of a large inventory of surface pads and more than 150 km of third-party pipeline infrastructure, which can be utilised to minimise future capital requirements as efforts shift to potential oil development. In addition to ongoing development at Marten Hills, i3 will continue to advance appraisal and development of its existing Clearwater acreage at greater Dawson, Cadotte and Marten Creek.