Simonette
Situated within Alberta’s prolific Deep Basin, Simonette has multiple productive and prospective horizons ranging from the deep conventional Devonian Leduc, through the unconventional Triassic Montney to numerous highly productive Cretaceous horizons including the Dunvegan, Falher, Wilrich and Gething formations. The stacked, multi-zone environment of this region is generally characterized with an over-pressured regime which supports strong recovery factors within the various productive horizons, being prospective for oil, dry gas and liquid rich natural gas development.
As part of the acquisition of its Canadian assets in 2020 and 2021, i3’s position includes approximately 50k net acres (66k gross acres), with an average working interest of 75% amongst multi-zone rights along a network of owned infrastructure (including batteries, water disposal, an over 1 million m3 water reservoir,, gathering systems, compression and multiple egress options). The capital invested to date reduces future development costs and provides meaningful third-party revenues to compliment a large contiguous gross overriding royalty position focused on the Middle Montney formation.
Near-term development of the multiple, high-impact, horizons at Simonette are focused primarily on operated, high working interest, light oil targets in the Cretaceous Dunvegan and Triassic Lower Montney formation at South Simonette, along with similar opportunities in the Middle Montney at North Simonette. i3 plans to advance development of Simonette in a methodical fashion through the use of modern horizontal drilling and completion techniques to unlock the significant OOIP and OGIP resource potential in a disciplined and efficient manner.
