6. 1,100 barrels per day Initial production from a typical Duvernay well is over 1,100 barrels of oil equivalent per day (boepd). Over its lifetime, the average well will produce more than 1 million barrels of oil. As much as 60% of that production is condensate — a super-light hydrocarbon that trades for a 10% premium over light crude oil.
But recent results from Chevron and Encana (TSX: ECA, NYSE: ECA) — two of the biggest players in the region — suggest that those well figures could be even better than expected. One Encana well produced a highly publicized 1,400 barrels of condensate per day and 4 million cubic feet of natural gas ONE MONTH after initial production. Recent drilling results from other operators have also been impressive.