According to BOE Report, Bonterra Energy achieved record annual production of 15,513 barrels of oil equivalent per day in 2025, a 5% increase from the previous year, while completing strategic acquisitions and expanding drilling operations across Alberta.
Production Growth Drives Activity
The Calgary-based company spent $69.9 million on capital projects in 2025, focusing primarily on Charlie Lake drilling programs that delivered the production record. Bonterra also completed the Bonanza asset acquisition, adding 760 boe/d of production and 21 new drilling locations to its inventory.
“We took several key steps to strengthen both our financial position and our asset base,” said Patrick Oliver, Bonterra’s CEO. The company successfully drilled its first three-mile horizontal Montney well while continuing delineation work across multiple formations.
For 2026, Bonterra projects production between 16,200-16,400 boe/d with capital spending of $75-80 million, representing a potential 14% increase in investment from 2025 levels.
What It Means for Subcontractors
- Drilling activity expansion: With 21 new tier-1 drilling locations added and 2026 capex up to $80 million, drilling contractors and service companies should see increased bidding opportunities
- Horizontal completions growth: The successful three-mile Montney well signals potential for more extended-reach drilling projects requiring specialized equipment and crews
- Multi-basin operations: Active programs across Charlie Lake, Montney, and Cardium formations create diverse service needs from drilling to production optimization
- Delineation phase work: Ongoing resource evaluation means steady demand for geological services, well testing, and completion optimization rather than just new drilling
- Geographic focus: Operations centered in Alberta’s core producing regions where established service networks can capitalize on proximity advantages
