Advantage Energy Stock

Advantage Energy Ltd. operates as intermediate petroleum and natural gas development and production company with a significant position in the Montney resource play located in Western Canada.

The company focuses on the development and delineation of its Montney natural gas and liquids resource at Glacier, Wembley/Pipestone, Valhalla and Progress, Alberta. Across these properties, the company holds a total of 228 net sections (145,920 net acres) of Doig/Montney rights. All the areas have potential for liquids-rich and multi-layer development.

The company’s foundational Glacier gas property was the focus of its second half 2020 and first quarter 2021 capital program with 19 gross (19.0 net) wells drilled and 14 gross (14.0 net) wells completed. Of those wells, 6 were drilled and 8 completed in first quarter of 2021 while 14 of the 19 wells are on production utilizing the company owned infrastructure and surplus plant capacity and 5 wells are drilled and cased waiting to be completed during the third quarter of 2021.

Five additional Glacier wells are scheduled to be completed and tied-in during the third quarter of 2021. Fourteen additional wells are scheduled to be drilled in the second half of 2021 with the primary focus remaining at Glacier.

History

The company was founded in 2001. It was formerly known as Advantage Oil & Gas Ltd. and changed its name to Advantage Energy Ltd. in May 2021.